Yesterday my partner Cory, tweeted this interesting big picture chart of Apple, pointing out that the tech giant led the NASDAQ and overall risk markets lower in both of the last market cycles since 2000, and that its recent bear market (now down 25% so far), may be about half way through and offering a clue on the trend of broader equity markets from here.
Today he offers this further big picture on the entire NASDAQ Index which has recently turned down from egregiously overbought levels–worse than levels seen in 2007 and similar to the all time crazy readings of March 2000. One more big market wash out, may well do the trick to end this secular bear at long last.
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