Apple, the one thin reed still holding this joke of a market together before it completely collapses, has undergone an important change in recent weeks. You see, for almost a decade, it reliably banged within that large channel you see below, and at one point, the tidal wave of free Fed money became so overwhelming, it blasted above this channel and formed a smaller, higher one.
This most recent channel held in place for a couple of years, but it broke this month. My view is that AAPL will keep slipping in price until it finds (temporary) support at the trendline of its prior, larger channel. In other words, this party has a ways to go.
Just for kicks, here is a link to the channel patterns in the Socialtrade chart database.
