Apple stock represents about 17% of the Nasdaq 100. It is also the clear “symbol” of the rally of the past 3 years, consistently leading and outperforming all other equities in a relentless and historic rise.
If/when a top occurs in Apple it will almost certainly mark a top in the other indices as well.The most objective signal that any asset has topped/bottomed is when it takes out a previous HVN (High Volume Node) of the same degree of that of the time being analyzed.
In Apple’s case, the initial intermediate signal of a potential top is a close below 658, which would place it below not only the most recent HVN, but also below the HVN for August.
