The Forbidden Fruit:
Apple is the largest component in the S&P 500 and the Nasdaq, so it has a lot of influence. Give the stock credit for reclaiming its 200 day SMA in rapid fashion on Tuesday after CLOSING one day below the secular line. It also found support near a former cup with handle breakout pivot of 153.27 taken out on 11/17/21 and witnessed excellent action POST breakout, just what you want to see. The stock is off just a mild 13% from most recent all-time highs and is higher by 3.1% thus far trying to shake off a rare 5-week losing streak (just one other one since late 2018). Compare that to other mega caps in MSFT and AMZN which are 16 and 19% off their respective annual peaks. GOOGL is off 12% from its yearly ascent and is sporting a bear flag formation, but AAPL is the only one of the quartet above its 200 day SMA currently.