AAPL is Warning of a Classic Market Top
The much loved stock Apple Computers Inc is owned by everyone and is a market leader in price and capitalization. However classic pattern analysis (see book by Edwards and Magee) suggest not all is hot with this stock and therefore the general market.
Previous Post on AAPL: Wyckoff 2.0 for the 21 first century
Classic market tops are heavy with distribution, smart money selling to the dumb money. Distribution patterns that reverse are abnormally wide ranging and volatile. The latest price pattern in AAPL fits this category. Of course the mighty AAPL stock could shoot higher, but with each push higher has seen each sideways distribution patterns (that turn into re accumulation patterns) get wider and wider. This is not a healthy price advance, in the end a break of the long running and winning 1x2 Gann Angle will confirm a AAPL top and most likely a market top. Watch this space.