Why It's Different This Time With AAPL's iCorrection

Tyler Durden's picture

We have seen bigger drops in AAPL's share price and each time that dip has been bought. Critically though, not just nibbled on but backed-up-the-truck volume surges as AAPL's price fell as what seemed like institutional buyers using any dip to grab some high-beta meth into this trend. The current almost-10% drop is missing this volume surge - where are the BTFD'ers? But, but, but what about iTV, the mini-iPad, and the pending vendor-financing corporate spin-off?

Volume (2nd pane from top) is not ramping like it has in the past on 'decent' sized sell-offs in AAPL...

 

and interestingly we have typically (though not always) seen a spike in average trade size as AAPL's dip was bought institutionally - this time the spike occurred on 9/21 - the day of the top...

and also of note is the level (red dotted line) of the last major ramp in volume and average trade size (in early August) is close to where we are trading now - suggesting plenty of action as the auction was heavy here.

 

Is it different this time? With AAPL a mere $1.50 away from its $634.56 10% correction from the highs, we wonder if that or the 100DMA 200DMA $619.75 will be the next support?