THE HEADLINE:  Apple Tumbles Back Below Trillion Dollar Market Cap

MATASII SII ANALYSIS: November 5th, 2018-AAPL Apple Inc IDEA:   The weekly chart (left) for AAPL shows a large, slightly expanding wedge that can be seen from the bottom left of the chart.  In 2016 the market lifted off the bottom of the wedge's support, and by 2017 we can see APPL bouncing around the top of the wedge's resistance.  In April of this year we get a clear break and lift from the wedge's resistance; the market makes new highs in Oct.  The lift from 2016 formed it's own expanding wedge, and although AAPL has had a recent sell-off with the market in general, at this time it still remains within a positive trending pattern.  A break out of the current structure and a move back in to the previous would have us looking towards the s/r's inside the previous  pattern.

The daily chart right shows a closer perspective of recent market action.  Solid orange highlights technical trigger considerations, in this case they are highlighting Fibonacci levels. Falling further and breaking below $198.40 could see a move to test the top of the previous pattern's s/r.  IF support is found and the market lifts over $214.00, would could see a move back to previous highs.  Orange dashed arrows offer potential moves for consideration, from one technical to the next.

The weekly MATA suggests more potential downside could be seen until momentum reaches support (blue s/r).  The daily MATA is at previous support levels; resistance for the drop can be seen (grey s/r) and moving over this could indicate a change in momentum.