AAPL Bearish, it is time

I've been looking forward to this for a while. AAPL has been strong over the past 2 months during the bear market rally, outperforming all the big weight stocks. I've just been wait for the day where it finally looks to be lagging compared to the market, cause over the past couple days while the market has been pulling back - AAPL has been performing with the market. BUT today we are seeing the market have a little strength (as of the time of this writing SPY up about 0.20%) and AAPL is down about 0.40%. I've already started building a bearish position on the SPY for the rest of the year, but I think today is finally the day to get into AAPL bearish as I am expecting it to perform worse to the downside over the next few months than many other stocks. On the weekly timeframe we see a nice divergence on the RSI and MACD Histogram; MACD lines on daily timeframe.

If you are an investor and don't want to close positions, buy insurance just in case. I'll be getting the March 2023 125 puts by the end of day today (I am expecting bullishness for most of the day going into close so going wait until later in the day). Just expecting more liquidity to be taking out of the market over the next few months and see a lot of value being taken out of AAPL as investors start to look for the next "big thing."

Comment:

So later that day on Aug 24. Apple announced their annual new product showcase is going to be happening on Sep. 7. And AAPL has been stronger than the market since then. Doesn't change anything about my thesis, just might take a little bit of time to start to work on the near term now. After Sep 7 I'd expect AAPL to really underperform.