After trading up to $676.75 in the first hour, Apple slid more than $20 only to close just off its lows of the day. It also closed below the key support of $660 and the only positive of the day was it was able to bounce off $656, which has held now three times since the August 27th gap open.
If the stock breaks today’s lows, we’re looking for the 50-day moving average at $650 as a big test if this is just a correction of something bigger. Stay tuned.
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