Lyin' CRUS Logic

The persistent weakness in Apple jumps out from the tape today, with AAPL all of its minor gains from a bounce attempt mid-week, and then some. 

Apple remains a bearish chart on virally all timeframes, with the name back below its prior 2012 highs, to boot, calling into question a good deal of gains from its 2013-2015 rally. 

With this in mind, as long as AAPL underwhelms we must continue to look down the line at AAPL suppliers for actionable short ideas. 

A few which come to mind: ADI NXPI SWKS TXN. 

But CRUS is also of interest. Cirrus Logic rallied sharply after its latest earnings reports, highlighted on the daily chart, below. 

Was it a case of a lying' CRUS, though? 

Perhaps the AAPL weakness finally came home to roost, not only squishing a base breakout, but also setting it up for a short entry into a possible bounce/bear flag next week. 

We know this market has been unkind to upside breakout plays for a few weeks now. So it is worth keeping an open mind to the idea that if we fail to see the usual upside reversal in the indices soon, it begs the chance to short the Apple suppliers even more, given the glaring AAPL weakness.