Is Apple’s rally signaling a new bullish phase?
$Apple(AAPL)$ When a $3 trillion company rallies +13% in a week, the effect on the market is meaningful. Apple not only fueled the indices but also decisively recovered its 200 daily moving average.
Such a powerful move has pushed the RSI above 70, indicating overbought conditions. While this suggests a period of consolidation is likely around $224, the conviction behind the rally implies a new bullish stage has begun. Any pullback in the $S&P 500(.SPX)$ and $NASDAQ 100(NDX)$ could now be mitigated by Apple's strength.
Staying above the 200DMA validates this bounce, a scenario that looks very possible as price now consolidates above this key moving average.
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