Quote:
Originally Posted by
rst 
Have you any thoughts about whether a Major Top in the S&P and AAPL have been reached?
Thanks for your insights, James!
Well, I hate long term perceptions, but the recent top on AAPL could very well be a major one (blow out). One perception I have is after the move to 1273, if the world is still intact (lol), then we would bounce and setup for a major consolidation period working our way to 1400. Then under this same perception once 1400 is reached you would get major volatility self generation playing both sides practically making it very hard to trade because stops on short to medium term strategies would continually get wiped out. The fundamental support here would be globalization and the rise of other smaller 3rd world like countries.
The other perception I have is outright bearish. Gold selling will create the first major bear market causing everything to lose traction, even bonds slightly. The move down to 1273 would be followed by another move down into the following feb. to 1100. At this point there would be major volatility and the same self generation characteristic I described above. From there on out isn't really applicable to any type of hypothesis.
The last perception is that we just keep doing the same seasonal trending we always have.
