On the 2-hour above, you can see the neggie d spankdown set up and occur smacking price lower off the 196 high.Price tagged the upper standard deviation band so a move to the middle band was expected and occurs and price continues lower to tag the lower band so now the middle band at 192.53 is on the table. The indicators are positively diverged sans the MACD line so price should bounce in the 2-hour time frame, then retreat again (due to the weak and bleak MACD line) for one more test of the current lows then likely recover.
However, as mentioned, earnings are on tap so anything can happen after 4 PM EST today. AAPL will probably bounce now, it is 10:40 AM, into say noon time or 1 PM, then likely roll over to come down for another test in this 188-189 area in the afternoon and just trade choppy into the bell waiting for the earnings tablets to come down from on high and dictate the path forward.
Global investors anxiously await Apple earnings after the closing bell. Analysts are focused on iPhone unit sales since the numbers dictate if Apple’s brand remains attractive to late adopters of smartphones. Samsung reported earnings noting a slowdown in overall smartphone sales.