If the triangle on chart 1 below breaks down, expect support to be found in the $612 - $614 area from where a pre-earnings bounce is likely to materialize. However, come earnings time, I'd steer away from it because of chart 2.
(Place the mouse cursor over the chart to enlarge)
Chart 1. A potential triangle.
(Place the mouse cursor over the chart to enlarge)
Chart 2. Everything to the right of black wave 3 is part of black wave 4 (i.e., the triangle shown on chart 1).
This chart here was produced last weekend and does not reflect Tuesday's action. The conveyed message,
however, is the same.
Trade Well,
Peter