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Tech

Apple, Inc (AAPL) : Bearish below the kumo. Sharp drop

 

I have placed my bearish bets on various counters since early April.

Among one of the counters I use as a proxy indicator for the market is Apple (AAPL). AAPL has dropped quite a fair bit since early April.

In fact, from the Ichimoku Daily Chart, we can clearly see how AAPL has dipped below the kumo support.

Since then, there is hardly any upward movement. On top of that, the weightage for AAPL in the index has also been reduced. This could also be part of the reason for the drop.

Note:

Use various leading counters with the index chart to form an opinion. Look for signs that suggest things are going to change.