Apple™ reported earnings and they were by all measures stellar. Now here’s where things get both interesting, as well as need to be paid attention to, as to gauge just how much impact the Fed’s reversal of QE (quantitative easing) will have collectively.
There probably is no more important company’s stock price that tells-the-tale, than Apple. The reason is pretty obvious, but lost on most. First: When Apple’s share value has made new highs over the years but faltered a bit going into an earnings report. If that report was as this one was (i.e., stellar by all metrics) the ensuing price movement would push it back up, then over, confirming the new highs were “legitimate” and it would be off-to-the-races into the next.
As I type this in the pre-market, Apple’s shares are indeed up, but they are not doing what one would expect if past is prelude. What’s also becoming far more apparent across the entirety of the “markets” is all the main propellants of the “markets” of late seem to be expressing the exact same technical patterns simultaneously. i.e., all in lockstep. (See yesterday’s Tesla™)
Why this is far more important today than in the ensuing years is the following…
If they can no longer rise together taking everything else with them – that means they may fall together taking the same.
Below is a chart of Apple as of this writing, before the session open on Friday. To wit:
As always, we shall see. But this is where I think those that want to be looking for signs should be focusing. I believe what happens today has more confirmation signalling that my observations are proving correct, rather than preliminary or just granular.
© 2022 Mark St.Cyr
Note: This is not trading or investing advice of any sort. This commentary is for “big picture” discussion purposes only. Please read, or re-read the “About This Site” page for any questions or clarifications.