Consumer Proxy:

Many argue whether Apple, obviously a technology company, could be classified as a consumer play, as its loyalty among purchasers may only be rivaled by Tesla, for love of their products. Either way the performance of its stock has a profound effect on the overall markets, and its success or failure has consequences. Long time readers of mine know my affinity with round number theory (fellow mega cap play GOOGL bounced very powerfully off the 1000 number in March), and AAPL is dealing with the 300 figure currently. After slicing 300 on 3/24, it has recorded just one CLOSE above it on 3/4, and Tuesday failed there once again. The stock is looking for its first 5 week winning streak since January, and when this name gets hot it can move powerfully in an upward trajectory. Let us not forget the recent 124.3% advance, during the weeks ending between 1/11/19-2/14/20, falling just 16 weeks in that 13 month time frame. Deja vu?

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