Shares of Apple Inc. (NASDAQ:AAPL) may be forming a bearish head-and-shoulder pattern. This tells us that Tuesday's pop may just be a short lived move, helping to form the right shoulder. If true, the head-and-shoulder formation indicates that Apple should start heading lower by Thursday or Friday, never taking out its all-time high. Once it breaches the neck line at approximately $155.25, the stock will flush sharply, with a downside target of $147.
Apple is on my watch list.
