Market Anthropology: One Bad Apple

Thursday, December 27, 2012

One Bad Apple

While I am off this week with family, here are a few charts I have been following for a number of months that continue to point towards market turbulence in Apple, the SPX and the NDX.
Below is the original formatting of the SPX/NDX topping comparative from the November 16th intraday reversal  (see Here). 

Considering Apple’s precarious posture – as well as the NDX’s fragile opening once again right below its 38.2% retracement level, I realigned the comparative to the pivot of the next leg down.