Apple Isn't Participating In Monday's Rally

Apple Inc. AAPL shares are trading lower by $2.82 at $107.02. After a lower open, it continued to make new lows for the session, while the S&P 500 index moved in the exact opposite direction.

At this time, there is no specific news to account for the nearly 2.5 percent decline compared to the 0.5 percent gain in the S&P 500 index.

As it bears down on the $107 level, it's over $5 lower than its peak last week at $112.39. That takes it beyond its former low for the month ($108.20).

Based on the daily charts, there is not any identifiable support until the trio of lows near the $105 level from March 24 ($104.89), March 28 ($105.06) and March 29 ($104.88).