As a follow-up to Friday’s expectation for a 5% pullback in the broad markets, so far XOM is nearly half way to it’s expected 4% drop while AAPL and the SPY are currently trading slightly above the levels posted on Friday.  Previous & updated 120 minute charts on XOM, AAPL, & SPY below along with the AAPL daily chart.  Interesting how the broad market (both the $SPX & $NDX) have continued to power to new highs while AAPL peaked back in early December and has been in a confirmed downtrend (as defined by a series of lower highs and lower lows) since.  The updated 120 minute chart of AAPL discusses two alternative bearish scenarios as well as a bullish scenario (new near-term highs, which would call the near-term downtrend into question).