We know Apple's stock is at all time highs.
We know they can't sell enough of the latest and greatest (yes.. it talks back to you) iPhone.
But what you might not know, is that from a technical perspective, Apple's chart might not be looking too good heading into earnings.
As Dan Nathan of CNBC's Options Action and of Riskreversal.compointed out, Apple could be forming an "Island Top"formation, a benign-sounding pattern that carries bearish implications for Apple shareholders.
According to Trending123.com, an Island Top "occurs when the price “gaps” above a specific price range for a number of days and then is confirmed when the price “gaps” down below to the original range."
Looking at a six month chart, one can see the massive gap higher. The big question heading into tonight: Will it reverse and gap lower, thus forming the aforementioned Island Top?