DOW JONES OVERVIEW: APPLE HOLDS 10-YEAR UPTREND TESTDuring the recent selloff, Apple on long term basis failed the 5-year uptrend by falling below 1st upper standard deviation from 5-year (260-week) mean @ 109, however held the test of 10-year uptrend by bouncing up from 1st upper standard deviation from 10-year (520-week) mean @ 92.
On short term basis, the price managed to hold 1-year ascending channel (marked by 1st standard deviation from 1-year (264-day) mean, but the risk remains on quarterly basis - the price is below 1st standard deviation from quartelry (66-day) mean @ 116, reflecting probability of more downside here.
Thus we can conclude that while price is trading above lower 1st standard deviation from yearly mean @ 102,80, the overall bias remains positive.
It will be confirmed by price getting back into 5-year uptrend by breaking above upper 1st standard deviation from 5-year mean @ 109
