Yes it’s true AAPL flaunts its price rise and rebukes disbelievers. Like a lot of investors we dozed through some of this and had small positions. But we did have a position, even though laughably small. We think the problem throughout this dreamlike market is the atmosphere. What right has the market to rise with plague in the air and the economy in the state it’s in?
The same right it always has to quietly take the money and sneak out of town.
The AAPL chart above is a weekly and gives some idea of the powerful forces lurking in the market. It also shows what just listening to the market instead of to talking heads and pundits. At the moment we don’t see any indications as to clarity– it’s pretty much a day to day thing which we watch very closely.
Again, weekly, the SPX shows a strong recovery but we need to see a new high. Until we see one this market will reain under suspicion