Fresh Apple breakdown is a great test for this market

A fresh breakdown in Apple from it's multi-week range isn't going to help the Nasdaq QQQ stay away from its June lows, but it's a great immediate test for the market.

If buyers, do in fact, bid into Apple and drive us higher into the close, absorbing the bad news, that could spark a bounce broadly, suggesting bad news is priced in, but it's on the buyers to prove it.

Right now the trend remains lower while volatility continues to rise, which is definitively bearish, and the Apple breakdown gives more ammo to the bear case.