Apple Ripe?
The stock that is basically a proxy for the Nasdaq, at more than 8% of the entire tech heavy benchmark, is on a roll. They say things do not go up in a straight line, but this name is defying that adage, especially for a name that is a trillion dollar market cap which is not easy to maneuver easily (very small, select group!). However it may be meeting its match here, with a couple things that may provide a roadblock. It did record a bearish harami cross, that occurred at the very round 300 number, after advancing 17 of the last 19 weeks. It is hard to bet against this name, and I am not doing that here, but a good risk/reward scenario is setting up to the downside. And if that transpires, it will have big implications for the overall markets. In the last month it has not registered back to back down days. This could decline 10%, and still be just in for a contact of its rising 50 day SMA.