AAPL - somewhat over-stretched

With the broader US equity market breaking new historic highs, Apple (AAPL) was similarly at new historic highs, but settling -0.6% @ $132.18 (intra high 133.60). Despite the current price action, AAPL is at long term trend resistance, a brief cooling to the 125/120 zone is very viable.


AAPL, daily

AAPL, monthly

Summary

*with just 3 trading days left of the month, AAPL has a very powerful net monthly gain of 13.3%, but then.. Q4 earnings were frankly.. superb.
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To be clear.. a retrace is very viable... but broadly.. the trend is hyper-bullish.

AAPL remains grossly mispriced relative to the main market. Given another 24-30 months, AAPL will likely be trading in the $250/300 range... before the current QE/paper bubble blows up.

Without question, AAPL is arguably one of the top 3 stocks not to short.