Day trading AAPL watching as Nasdaq heads down as Apple makes up 20% of Nasdaq trading volume.

Apple (AAPL) is showing weakness as it heads into the first major support at $626 . Watch for consolidation at this level as price has come to the first major supporting trend line.
If price breaks through this level then the next area of support is $582 then an extreme sell off to $520.

It looks like we could see some support coming into $5400-60 area as this is the are of consolidation for the breakout from the inverted Head and Shoulders from May of this year.

Seasonally, this is when we start to see a rally begin, and pre election we could begin to see this sell off hit support and then rally into the elections.  Maybe the markets could see more selling into the election as a sign that the excessive spending is not supported any more and that the quantitative easing is not effecting the major inputs for a healthy economy.

One positive side we could see in this era of price inflation, if the dollar weakens more stock prices do normally have the tendency to go higher.  This also means we will have higher gas prices, commodities prices and unemployment going higher as inputs for smaller business increase.