Apple’s big product launch, where it is expected to announce the iPhone6 and iWatch is only a little while away now, scheduled for 1:00 pm ET. Today’s event is one of two potential make or break moments for Apple’s stock this month. Since February the stock has been on a tear rallying from $70.00 up over $100.00 recently. In the process, extremely high expectations for the company’s continued success has been built into the share price. It’s possible though that the rally has become exhausted. RSI had become extremely overbought over the last few months. Last week’s pounding back under the $100 level on news of new competitive products from Samsung indicated that it would not take much to encourage some traders to take profits and head for the door. Initial downside support appears possible near $96.00, a 23% retracement of the advance from February. On the other hand, shorter-term analysis suggests that much of the excess frothiness may have been removed by last week’s correction. More recently the shares have been trading between $98.00 and $100.00. While the failure to retake the century mark appears troubling, the RSI shows that overbought conditions have eased and downward pressure has been easing. A positive response to the news could spark a rebound that could retest the August high, setting the stage for a potential breakout or a double top. Historically Apple shares have rallied on the day of the product launch event and continued to gain in the days between the product announcement and the day products are launched in stores. The on-sale date is likely to be later next week and could also be a potential catalyst for trading activity once customers have the chance to vote on whether the new products live up to the hype with their wallets.