Signs Are Mixed, but Focus Remains on Bullish AAPL

Subtle signs of weakness have been creeping into the intraday charts. On Wednesday, the Dow turned lower after failing to reach an ‘easy’ midpoint Hidden Pivot resistance. Even so, I am very much focused on the bullish look of AAPL’s charts. The stock is an important market bellwether with a long-term rally target at 168.33 that lies $9 above current levels.  AAPL showed excellent relative strength on Wednesday, implying sellers could have difficulty pulling it, and therefore the broad averages, down until such time as it has topped at 168.33.