Apple stock’s recent weakness could stem from safety-seeking investors who are now fleeing

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Apple stock’s recent weakness could stem from safety-seeking investors who are now fleeing
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This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.

This is a flattish day of waiting for the week's known catalysts outside of some follow-through weakness in Apple on more iPhone sales worry. The market continues to feature range-bound action with weak momentum and some technical challenges above, while supported by a multi-week easing of financial conditions and firmness in the underlying economy.

Much of the weakness is likely the exit from money that previously assumed AAPL was a haven. It has been, of course. It's done that job well, but this makes the stock vulnerable to scares. Crude oil is firming near the bottom of its year-to-date range allowing energy stocks to reclaim about half of Monday's drop. Financials are steady.

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