Apple Inc. (NASDAQ:AAPL) was trading perfectly into a double top pre market this morning, near the $279.00 level. Once the markets opened, Apple was just below the double top, kissing it gently. The stock has sold off since then, dropping to the negative side for the day. This double top on Apple Inc. is a strong resistance level and should be respected. In addition, short term, Apple is very extended after running up almost 20% in the last three weeks. This tells traders to look for a possible pull back on Apple in the coming weeks. Note the chart below.

Gareth Soloway
Chief Market Strategist
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