The QQQ short term up-trend completed its 4th day on Monday. I am concerned about AAPL’s lagging the market. It is not a good sign when a market leader lags. The last time AAPL reached a new high was on February 16. Click on daily chart to enlarge.
Stock Market Technical Indicators & Analysis
The QQQ short term up-trend completed its 4th day on Monday. I am concerned about AAPL’s lagging the market. It is not a good sign when a market leader lags. The last time AAPL reached a new high was on February 16. Click on daily chart to enlarge.
There’s a good reason for the underperformance as investors adjust their weighting in Apple relative to the NASDAQ 100: http://www.bloomberg.com/news/2011-04-05/apple-s-weighting-in-nasdaq-100-to-be-cut-as-microsoft-cisco-are-raised.html
I see this as a purely technical underperformance as opposed to real investors’ concerns.