Investors often refer to “the canary in the coal mine.” As the world’s largest company, I would say that Apple is a very important canary which is worth watching closely. Take note of two things about recent activity: (1) its bullish breakout has completely flopped (2) it is even breaking below its supporting trendline of the right triangle pattern.
Looking at this diminishment, coupled with key indicators, a picture begins to emerge that maybe the giddy days of daily lifetime highs are going to be a thing of the past.
If Apple genuinely starts to fall, may I suggest the heft of the canary is going to be along these lines:
