AAPL Update 1-14-13

AAPL gapped down over 3% this morning, made a new low for its decline since Sept and looks to have broken out of the descending triangle pattern noted in the last post.

The daily MACD has bullish divegence, so this is possibly a terminal type move if we see a quick upside reversal, but until that is proven, I believe the higher odds is that this is a breakout of the descending triangle which will likely push AAPL down to $430 or lower over the next few weeks.