The technicals are soft in the very short term, but on a longer term basis, it's stabilizing quite a bit and has actually turned positive for the momentum. Since July of this year, there has been multiple attempts to get this to sell off, but every time it's held up. And that's despite all the fears, earnings, rumors, fiscal cliffs, and price targets going up or down. The sellers have had their chance, and now it's time for it to start recovering.
I look at the weekly charts to filter out the noise, and there's a few things evident: the downtrend from 2011 has been broken and since November, momentum indicators have recently moved from negative territory to positive territory.
This is a slow moving boat to turn around, but it's moving, and in the right direction, if you have a long bias.