Apple Bottom

It is difficult for the market to rally when the most important stock, Apple, goes down everyday. I believe the market is trying to put in a bottom and will leave you with the wise words of Jeff Saut:

Accordingly, I continue to think the equity markets are in the process of making a “low.” As stated, “The only question to me, at least in the near term, is if we get a selling climax or a selling dry up?!” The ideal pattern would be for some kind of “pornographic plunge” hour into the 1230 – 1250 zone, but given last week’s action, a “selling dry up” (where the sellers just run out of steam) can’t be ruled out.

Have a good night.