One stock does not make a market….yet if their was one stock that could send a major market signal…could Apple be the one???

 CLICK ON CHART TO ENLARGE

Apple almost doubled in price since the lows of 2/2010.  Now a support line drawn from those lows is being put to a key test at (1). 

IF this support line is taken out, which it HAS NOT at this time  (SUPPORT IS SUPPORT UNTIL BROKEN)…. this Wall Street favorite could see a good deal of sellers step forward to lock in profits.

Below is a chart published on dshort.com this past Friday evening, reflecting that the Semiconductor Index has been a decent leading indicator in both directions for the past couple of years.

CLICK ON CHART TO ENLARGE

With the Semiconductor index reflecting relative weakness of late, what Apple does on support becomes all the more important!

Get All of Our Weekly Research

Kimble Charting Solutions’ weekly combo lets you save on all of our weekly research

Learn More

New site launch promotion! Lock in our previous pricing until 8/31/2016.