Apple mixed macro signals
Apple is perhaps the most interesting on this series of charts of big tech.
Apple can be considered a value stock (or close) with a PE just over 15 at 17. It has historically shown some conflicting divergences on this monthly chart, with several bullish divs that played nicely into RSI blowoff zones. It has a similar setup now. Candle structure wise Apple looks more toppy here though.
I have long term Apple positions on spot that I am holding for now but again, am watching closely. Apple is more accurately valued relative to others in big tech, but it doesn't mean it can't correct from here either. It would certainly be interesting to see it blow off to the upside -- perhaps that could be an even better indicator for a medium-term end to this market cycle.
Apple can be considered a value stock (or close) with a PE just over 15 at 17. It has historically shown some conflicting divergences on this monthly chart, with several bullish divs that played nicely into RSI blowoff zones. It has a similar setup now. Candle structure wise Apple looks more toppy here though.
I have long term Apple positions on spot that I am holding for now but again, am watching closely. Apple is more accurately valued relative to others in big tech, but it doesn't mean it can't correct from here either. It would certainly be interesting to see it blow off to the upside -- perhaps that could be an even better indicator for a medium-term end to this market cycle.
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