Apple, is this the Canary in the Coal Mine ?
I have mentioned before that I do not follow many individual stocks and insteaqd try to focus on the macro theme. With that said I do watch Apple as one of the six stocks with a telling story. The other of the six are Caterpillar, Goldman Sachs, Cisco, McDonalds, and GE. Apple is the consumer tech story, Caterpillar is the world infrastructure story, McDonalds is the cheap food in a recession story, Goldman Sachs is the downfallen financial story, Cisco is the downfallen tech infrastructure story, and GE is the downfallen conglomerate story. This week apple made a new all time high and has stalled. We are watching it closely.
As I mentioned yesterday, this is an important area for the stock and commodity markets. Today we are activating our flash crash technical programs again for the first time since last June as conditions exist where they might be needed. My gut tells me to get out of all remaining stocks today but for the moment I will hold on so see if new information develops.