The market had been carrying the energy of the strong 2007-8 climax fairly well until the 2012 top, but after that we see a degraded bullish momentum, which has finally been halted by a head-and-shoulders formation. The weekly TL is broken down, and it seems the "second support" in the daily view at $76.8 which is indicated by the head-and-shoulders formation is more likely to be broken as well. So the next target would be around $60. In the worst scenario we should be seeing the bears take over the market until the $12-$22 level, which would be the absolute bottom for Apple. But that sounds like a fairy tale at the moment. What we should do is to just focus on the next target, not the last one.
