martis's - worry when i'm worried - thursday, page-17

Martis may not be worried, but this chart of Apple worries me.



This has all the hallmarks of a blow off top.

Chart is 200 trading days. After a big gap up Apple hit the top of the wide range Raff channel last night - on high volume. And then fell. Last night the "smart money" was selling.

RSI is at an extraordinary reading of 86.5. Rarely does a stock hit above 80 without falling.

MACD Histogram is showing a negative divergence.

If Aapl falls, Nasdaq100 will fall. At least for a short while. That will impact the whole market.

Good luck
Redb