AAPL looks like it is about to start the week with a win, with steady, tight price action serving as a sharp contrast to the morning’s volatile trading in the broad markets.

As Monday’s morning session starts to segue into the afternoon, AAPL is currently at $112.98, leaving with a gain of 0.23%. That leaves the stock outperforming the broad market indices, with the Dow off by 0.74% and the benchmark S&P 500 index (SPX) down slightly less at 0.64%.

AAPL remains up for the year with a gain of 7.38% YTD. Meanwhile, the S&P 500 index is now up by 5.20% on the year.

AAPL could be entering a sideways trend right now, an indication of consolidation following its

nearly 10% gain over the course of just 4 sessions. Today’s intra-day support so far stands at $111. 55, which was mirrored on Friday as well.

Current resistance is at $116.13, a level that has served the role on 2 different occasions during the course of the last 7 sessions.

The fact that the stock is up for the day, even if it is just barely, may bode well for the stock’s immediate future, particularly in the face of today’s triple-digit loss in the Dow.

AAPL’s 50-day moving average now stands at $107.04, an additional level of support should the current one fail to withstand a bearish play. Should the mood of uncertainty that is coloring today’s equity market continue, that’s a level that becomes worth monitoring.

Meanwhile, the 200-day MA is at $101.99, and aside from the fact that it served as the slower moving average of the recent bullish MA crossover, it essentially is out of the near-term picture.

December’s high of $120 remains as the bulls mid-term goal, and a breakout above current resistance should see AAPL make a beeline up to test that line shortly after.

AAPL’s PayDayCycle is now entering day 2 of a bearish trend, though the recent sessions of choppy trading mean that a strong cycle has failed to develop.

The MACD continues to trend downward, with 6 red bars all in a row, descending towards the zero line. At this rate, a bearish MACD crossover could come into play soon, signaling both an exit from the recent bullish trade as well as an entry for a new bearish one.