I drum-rolled AAPL Sunday night because it was stalled in a dangerous place, an inch from a crucial resistance at 248.48 (see tout, below). The stock holds the key to the bull market, which is all but certain to continue as long as Apple shares are moving higher. Coincidentally, AAPL and the broad averages somewhat diverged on Monday, with the former getting socked for a 2.23% loss as indexes closed little changed. I expect this ‘divergence’ to be reconciled shortly in bulls’ favor, but you never know. In any event, the yellow flag is out.
