Courtesy of Doug Short.
Note from dshort: Apple made headlines in the mainstream financial press today by breaking above 500 in the early minutes of trading. Chris Kimble has been following Apple closely in recent weeks (February 9th and January 20th). Here is his latest perspective on Apple and the broader market.
A key resistance line has been in play since Apple reached $12 per share back in 1995. Each time this line has come into play, Apple and the S&P 500 have backed off in price for a while.
For 17 years Apple has paused at this line. With some markets facing resistance right now, how Apple handles this line could well correlate with the 500 index … again!
(c) Kimble Charting Solutions
blog.kimblechartingsolutions.com
