If DeMark Is Right About Apple, Its Insanely Bullish for the Large Cap Indices
- Posted by ppearlman
- on January 16th, 2013
Since September 18th, $AAPL, the largest market cap stock in the universe, has fallen 30% while the SP500 has managed to eek out a 1% gain.
This was a healthy rotation out of a single stock which contributed an outsized positive influence on the broad market during its glorious ascent for almost 3.5 years beginning in early 2009.
If someone had said 4 months ago that $AAPL would crash and the market would hold steady, we’d have thought him ridiculous.
Meanwhile, Tom DeMark came out last night and called a bottom in the name.
If DeMark is right, this would be incredibly bullish for the broader market after digesting $AAPL’s extraordinary reversion so constructively.
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Phil is the interactive editor at Yahoo! Finance. Formerly, he was the executive editor at StockTwits. He is a partner at Social Leverage, LLC and makes early stage investments in web based companies. (More)