Apple Inc (AAPL)

[HadMint1]

This grinding action around $630 in AAPL is very constructive. Sure it could be the consolidation (or bear flag, wedge, or whatever) before another 5% drop.
But if AAPL is headed toward its own secular decline, it's not time yet. For a model of how these bottoms happen, look at a chart of GOOG for the past 3 years. Sharp rallies, sharp sell-offs, and quick bottoms before the next surge.
For these two dominant tech companies, still in their prime, still creating the future, the sell-offs can be rough. But the rallies afterward must be caught.
And now today we have something of a double-bottom in AAPL. Last Tuesday's low was $623.55. Today's low was $623.85. If you were short and you didn't get the follow-through you were looking for, it became time to cover.
And meanwhile, all the PMs who need more AAPL and all the bargain hunters who can't resist just kept doing their thing... accumulating.
Is this the low of this quarter? While I can't be certain of that, I think there's a 2 in 3 chance it is. And the high-probability trade here is to buy the double-bottom and run with it for as far as it goes. Bears will look to scale back in from $640 to $660. And that will add more fuel to the rally.