AAPL technicals show a macro bear flag; rallies are shortable opportunities for further downside unless the pattern's high is broken.

Next, we go to Apple. Apple today is trending a little bit lower. So Apple had a big drop on Friday, continuing to drop today. Now the thing to realize about Apple is tomorrow they have their big unveiling event.

Now this is going to be the first big unveiling of new gadgets or products that Apple will be doing since Tim Cook just left. So this is a big one. Now if you look at the price action, the markets so far are not buying the rumor, right?

often times you'll see Apple trend up into an unveiling and then sell off afterwards. Kind of working the opposite here. Now, that could work in the advantage of the stock, meaning that if it continues to sell today into tomorrow's unveiling, we might see a bounceback.

Now, Apple's been kind of lambasted because they have not really attacked the AI action. uh Siri is still kind of their thing, which is like kind of like if you got the stone age version of AI, that would be the stone age version when there's so many better things out there.

The question is, can they unveil the right things?

Now, on a technical analysis basis, we go to our daily chart. The first thing that I see that I don't like is that you have a bigger macro bear flag. Now, granted, interestingly enough, there's a gap here that has not been filled and a gap here that has not been filled.

So, we could still go up a little bit more maybe on this news, but ultimately this pattern, as long as we don't take out this high here, then this pattern is net bearish overall.

So, let me just rephrase what I'm saying here. I'm saying that if they if they do unveil something exciting, price could rally here or maybe even here. But as long as you don't take out this high, that is a shortable swing trade opportunity for further downside based on the chart.

So again, not too shabby going into this. We'll see. But again, any sort of rally into these gap fills with this pattern. And you guys might maybe you don't know the patterns. I know a lot of new people tune in every single day.

So I like to do a little bit of teaching and I've done that with support resistance. But with flag patterns, it's important, right? So a flag pattern is usually a pretty sudden drop and then you look for that inside bar kind of consolidation.

Essentially this is this drop is this is the digestion of that move and more often than not it resolves itself to the downside. So you can see sharp drop inside bar consolidation maybe it goes a little higher and then we would expect another leg down on Apple.

So just something to keep an eye on there as we continue through.