AAPL - back to flat, for the monthly close

Despite a seven day ramp - in sync with the main indexes, AAPL still only closed April flat. Near term trend is clearly still to the upside though. Next key target will be a daily close above the Feb' high of $480. The big $500 psy' level will be difficult, after that...the 200 day MA @ $540s


AAPL, daily

AAPL, monthly

Summary

AAPL is certainly seeing some consistent upside, and is indeed leading both the Nasdaq and broader market higher since the recent lows.

The huge monthly MACD (blue bar histogram) cycle is starting to show the first sign of levelling out, but its nothing conclusive yet.

Arguably, things will only become clear if AAPL can close May in the 500s.
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*those seeking equity weakness across May/early June should be really concerned, if AAPL is representative of the broader market. After all, if AAPL is now beginning a natural bounce to the monthly 10MA in the mid 500s (where the 200 day MA also lurks), that would bode for sp'1700s by July/August.

Even for those who never trade it, AAPL remains one key stock to watch.