Once again it feels like AAPL is the most important chart of the week (setting aside the 10 year treasuries of course). AAPL’s breach of the lower parallel, for the first time since September, is the key data point it seems.
Following the leader, of course, a mass of stocks followed AAPL in either breaching the lower parallel or nearly doing so. For example: ABB, AMD, AMZN, BE, BIDU, BLDP, BLNK, DASH, FCEL, GLD (getting close), INDA, IWM, JD, JNJ, LIN, NFLX (bounce then stall), NIO, NOW, NVDA, OKTA, PDD, PG, PLUG, PTON, PYPL, QQQ, SHOP (stalling near lower parallel), SPY (maybe but at least the 50MA), T, TSLA, UBER, VUG, and WDAY (getting close).
An occasional stock like SBUX made new highs but these issues were out of step with the averages.
That there are no ARKK shares available to short says it all.
Felix qui nihil debet 