Pure Synchronicity

Apple has had a tremendous, parabolic rise followed by a huge drop from 705 to 435, over 38% drop in price, in market value.  Wow!   But after such a meteoric rise what would one expect.  (Interesting that 38% is a Fibonacci number.)  Here is the daily chart first.  Strong downtrend but not oversold per ADX.  Strong, increasing spread downward on both 50/10 and 25/5 LRCs.  Slightly waning momentum per the ERGO and a bullish divergence.  And it stopped at strong support.  Possible bounce in the making? Longer term see the next chart.

Weekly basis its in a strong downtrend on all indicators, but not oversold.  However (more…)

This is great!  The comparison of financial stats on Apple vs. Amazon.  Go thru the graphic below, starting at the top until you get to the bottom and most likely your response will be WTF!!??  The markets’ reactions are so often a surprise.