Apple $AAPL has been consolidating since November, although there was a false bullish breakout in January to push price above the resistance around $177 up to $180. AAPL Daily Chart(click to enlarge)Correction:- Apple's correction so far is still under 10%, but price has cracked the previous consolidation support.- After a false bullish breakout, this bearish breakout does not surprise. - But now what? I think we will start to see some support as price moves closer to the 200-day simple moving averages (SMAs). - I think at the moment the bearish outlook should be limited to a maximum of 156. Upside:- If we are in a significant correction, a bounce should find resistance around 172.- A break above 172 could liberate AAPL back into its prevailing uptrend to drive price back to 180 and beyond. - Inability to push above 172 would indicate a correction/consoldiation is still developing.