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Thursday, February 16, 2012

Apple Chart and the Market

I have tried to call a top in Apple stock before, that was over 100 dollars back.  But this time, the stock chart is presenting a nice, classic hockey stick.  Price rises like what Apple has seen the last two months are typically parabolic blow-offs before the price drop hits.   Today Apple did drop quite a bit, over 2.5% from day high to close.

If Apple is in fora  correction can the market rally?  Apple is not the end all for US stocks, but it is a market leader in tech.  It's stock is heavily weighted in the Nasdaq.

The overall S&P 500 seems to be having trouble pushing higher. The next week will be interesting.  For your pleasure, charts below.   My posting has been lax because my work has been very busy for me, for months.  Busiest I have been in over 5 years.  Since I work in software development, related to the financial industry, that usually indicates to me markets higher ahead.

So I have mixed feelings here, the charts vs personal experience.  Personal experience that I am seeing says much higher market ahead.  The long term trend line I watch may soon cross into bull/up territory.

From WebSufinMurfs FinancialBlog2

From WebSufinMurfs FinancialBlog2

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