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Chris Kimble is, among other things, an Apple watcher. See A Bite out of Apple? (June 9th) and Eye on Apple (June 29th). Here is his latest update and a reminder of why Apple is so important.
Chris elaborates: Watch one stock or an index? Which is more important? Ordinarily the index is the winner.
But when a stock represents 20% of an index, that one stock is worth watching. One day doesn't make a trend, yet market leader Apple has been a little weak of late.
A support shelf has been created in apple, which is still firmly in place. Should this shelf break and Apple falls below $247, the cap size of Apple could definitely impact the index.
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