As you can see in the updated weekly charts for AAPL, the stock made a technical milestone today, closing for the first time since the early 2009 lows below both it’s primary uptrend line as well as the 40 week ema (which is also the 200 day ema).  Although prices did not close substantially below either level and the stock can still snap back above those key levels next week, I believe this warrants close monitoring due to the significance of AAPL on the overall market.  The first chart below is a longer-term (~10 yrs) view of the weekly chart while the second chart is zoomed in a bit to show how prices did indeed close below both key technical levels as well as pointing out the significance of the 40 week ema for defining the primary trend in the stock.

As of the close today, the AAPL short trade is up 15.2% from the entry price of 679.99 on back on August 27th but still has plenty of downside left before even the first target on the trade (see updated daily chart below).  Please note that I have added another target to the weekly chart, changing T1 from the previous level to match the top of the T2 zone on the daily chart.  The reason that I often list different or additional target on various time frames is to accommodate various trading styles (longer-term swing or trend trades primarily using weekly charts as well as more active swing traders using daily and intraday charts to time their entries & exits).  As of now, I am pretty much split between favoring T1 or T2 on the daily chart but I will continue to share my thoughts on this trade as it progresses.  For those who like to follow AAPL, there is link on the right-hand sidebar of the site called The Big “AAPL” , which lists all posts and charts on the stock starting with the most recent.