Post-Catalyst Storm over for AAPL?

Few stocks trade as proficiently or with as much potency as AAPL. Few trade down as violently after a catalyst, whether it's an incredible earnings report or the introduction of a "new" product like iPhone 4G. 

The post-WWDC selloff in AAPL may have reached a climax today, a fourth straight session down on rising volume. Since hitting an intraday high of 272.46 on April 26, stochastics on the daily chart have dipped below 20 just once, on May 21, when AAPL had an intraday low of 231.35. Stochastics are currently nearing oversold (sub 20) levels again.

I'm still 100% cash, but watching closely.

AAPL 3-month chart (daily)

[Update, 12:22 pm: Worth noting that the divergence in the MACD is to the down side in AAPL. The above chart comes from Big Charts. The stochastics in a chart from another site, Stock Charts, shows a different read because the time frames are longer or shorter, I'm not sure. What's important to know is that 1) observing different time frames is good, and 2) the MACD divergence on both charts indicate a down trend.]

  

Apple art: Avent Media