Danielle Shay said that Apple may have to tumble a good deal further yet before the market bottom is put in. The tech bellwether is down 20% this year after Wednesday’s 5% drop sent the stock into a technical bear market. Shay, the vice president of options at Simpler Trading, said she was looking for more damage as a sign that investors had given up. Shay told CNBC’s Kelly Evans that he’s seen regular and consistent selling. It hasn’t hit the core stocks like Microsoft and Apple in the way that it has hit Teladoc. I don’t think we can capitulate until we see Apple down, you know, even 30 percent. She said that people would hold on to Apple as long as it remained strong. When Apple starts to break, I think we will see capitulation. Shay doesn’t think the Federal Reserve will save the market like it has done in the past. Fed officials have made it clear in recent days that they plan to keep raising rates and selling assets until inflation is in line with the central bank’s 2% inflation target, after running at an 8.3% annual rate in April. The Fed doesn’t have any interest in saving the market at the moment. Shay said investors are used to the Fed coming in and saving them with the Fed put. My question is, when will they save us? I don’t know what will happen.