According to the indicators its a dead cat bounce.
Still looks pretty bearish to me. I think AAPL will consolidate in the green abit and then we'll continue to see the reversal. AAPL has been in a bubble for quite some time and is due to fall like all great things in this world.
How is it a bubble when the stock price never reflected the 50-75% quarterly increases in earnings? I would agree if it did but it didn't. If Apple only increases earnings by 10-15% it would still be undervalued today.
I cant defend myself against this. I am not an "investor". I use technical chart analysis to support and comfort my descions for making short term "attacks" on a postion. As I see it, from a technical stand point, it appears to be in a classic tech book bubble. If the market were to crash, AAPL is were I am going all in to short, and so are millions of others. I understand that AAPL is making money hand over fist, but I want to know if fear is beginning to constrict out greed.
Looking at the OBV, its still being dumped, and the Stochastics show it still being way over owned. The VIX on AAPL also had significant a spike last week. In congruence with the "Fiscal Cliff" talks being positive, I still have a strong conviction that we will see a further decline.