Apple Forms Spinning Top on High Volume

Apple suffered its biggest six week decline since 2008, but signs of firmness emerged as the stock formed a spinning top at the end of last week. Spinning tops represent indecision that can sometimes foreshadow a reversal. Also note that this candlestick formed with high volume. A move above Thursday's high would complete a short-term reversal. It would take a move above 580 to forge a medium-term reversal.

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