Apple (AAPL) does -17pts Wed – Fri – The Big Downtrend Continues even though all the Bulls want it to go up again.

So AAPL @ $445 was either going to move higher at $457 where I expected it to bounce back up with support but it fell more instead. If you look at the Weekly / Daily chart it’s 100% in a downtrend and the recent continued fall has only supported more of a fall which I think will be even harder possibly going under $400. Things that could change this? Some really new products. Better growth and lower margins in April earnings. Sometimes no matter what a stock just falls because the big traders are making lots of money on the move so until they want it to change direction it will continue its trend. So remember “The trend is your friend”. All the charts are beginning to cross-over with big red candles but from experience this is a choppy time. One day it looks like a fat put option the next day it looks like  just a pull-back and continuing uptrend (see NSC). Seems like tech will continue up (besides AAPL which is like the ugly ducking at the moment) however housing/materials/energy seem* to be changing direction which could be great shorting trades but I’m just going to keep my eye on them at the moment and if and when it feels right I’ll dive in head first.

Downtrend charts (AAPL, TOL, EOG) – Transitioning (NSC) – Uptrend still (GOOG)