I have heard many people say now that Apple has stopped leading the market but as I sit here in the car and ponder this thought and look over some charts, I think we need to consider something else too. Think about this, Apple had been a leader in the market for so long and everyone was a die hard Apple lover - you were told all you needed to do was buy Apple and you would be rich (thus we have a sell off). Now that Apple has stopped performing well (at all), it appears from the daily chart that the Dow and SP500 have tried to "disconnect" with Apple though it has not been strong. As we have all seen on the way up the market is sluggish, kinda weak, and slow - this is all during the same time Apple is trading lower and lower. So yes, the indexes are trying hard but as with everyone/everything... you eventually run out of steam and give in. I am referencing the indexes to Apple at this point and the "elephant in the room" the head and shoulders pattern seen on all indexes but specifically Apple. Therefore, by saying all this if you view the market as a living creature (like it often is) then it would make sense that if there is still some connectedness between Apple and the indexes (which it appears there is) then once Apple confirms it's head and shoulders pattern (below 500) we could see the indexes really give up, specifically the NASDAQ, and work towards confirming theirs. IF it is the case that Apple is still LEADING the market then it would make sense that once Apple confirms the Head and Shoulders pattern we should be more likely to see the same confirmation pattern in the indexes.

Saying all this is just something to think about, no one will really know the answer until the possible head and shoulders pattern is invalidated. The purpose of this post is purely to consider all options. I feel like the market is in more of a stand still than anything else. Slowly moving higher, but weak, and not great volume... Individual stocks are moving and you need to keep an eye on those but also be aware of the "elephant in the room". Below are some charts of these looming head and shoulders patterns. (Click to enlarge images)

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