[AAPL] update

ApplePhoria is officially over.  In the backlink I presented a model suggesting that the peak back then of $134 was in and now we should begin to see a big slide.  Since then we have seen the shares put in a triple top now today the official sell signal just arrived - the big gap below support.

Please review the top level model in the backlink to find that the target price for this pullback is $55 which is the level of the prior 4th.  I also want to point out that the tone of reporting is turning sour.  The media is now talking about the billions of fake market cap that evaporate each time one of these big names loses a few percent.  Of course, market cap is just an illusion and the only thing that gamblers really care about is the percentage move.  But it begins to scare the masses when they hear about "50 billion lost in a day" and other such drivel.  Well of course when your shares are at all time highs you will find that big percentage moves trim "record" amounts off the fake and vacuous market cap figure.  Anyone even mentioning "market cap" in a serious financial conversation should be slapped in the back of the head and told to shut up.  It's a completely useless metric which does nothing except play on the emotions of the weak minded.

In any case, unless AAPL can re-take that new resistance line very quickly, AAPL share are going to be under pressure.  I think it is just catching down to the weaker players and I think tech is just the next leg of the market support being kicked out.  The first leg to go was obviously the transports.