March 31, 2019 | AAPL, AMZN Warning Bears to Back Away

As much as I’ve distrusted the stock market’s presumptive bear rally every inch of the way, the charts of two bellwethers, AAPL and AMZN, look too bullish at the moment to assume the sky is about to fall. AAPL in particular has been unstoppable and looks like it could hit a $212 target 12% above current levels. I am wary of getting sucked into a bear rally whose sole purpose is to suck in skeptics like me. The bullish case must be respected, especially since, as we know, the stock market’s strength these days has no connection to a global economy that has weakened dramatically in recent months.
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Rick Ackerman March 31st, 2019
Posted In: Rick's Picks