We all believe in some form or another we’re marching to the beat of
our own drummer. Then for some reason the beat changes. Yet we don’t
notice. This could be just as confusing to your inner rhythms as trying
to dance hip hop style to a waltz. You may feel like your cutting it up,
but chances are you’ll find (to paraphrase Billy Idol): “You’re dancing
Far too many start out in pursuit of a business or idea because they
believe they have something to contribute, or something to say. Then
little by little for some unexplained reasons they believe customers,
fans, or others no longer find them as unique, (or whatever word fits)
and they can’t understand why. I will assert it’s because they haven’t
noticed the drummer they were marching too has changed the beat. Yes
they’re still marching, but not in the same rhythm or cadence they began
Here is a brief commentary from Panzner Insights, which I posted on Friday:
As the chart shows, Apple's stock is tracing out a textbook head-and-shoulders top.
While key support has not (yet) been breached, the fact that the stock's index-relative trend is trading below comparable levels—which normally indicates that institutional investors have been heading for the hills—suggests that it is only a matter of time before the share price follows suit.
There are no guarantees, of course, but standard technical analysis points to a minimum downside target of $300 on the absolute chart, and 20 percent-plus underperformance versus the S&P 500 index.
Given that the broad market peaked around the same time the world's favorite stock did, it might be a good time for those who are betting on further upside for U.S. share prices in the weeks and months ahead to have a rethink.
Further to my last weekly market update, this week's update will look
- + 6 Major Indices
- + 9 Major Sectors
- + Germany, France, and the PIIGS Indices
- + Emerging Markets ETF (EEM), the BRIC Indices, and the BRIC ETF (BKF)
- + Canada, Japan, Britain, Australia, and World Market Indices
- + Commodity and Agriculture ETFs (DBC and DBA), Gold, Oil, Copper, and Silver
- + 7 Major Currencies
- + Major Trendline Breaks on 7 Major Indices
- + 30-Year Bonds