Apple Inc. (NASDAQ:AAPL) slammed into its daily 200 moving average today. The stock has jumped from $92.65 to a high today of $112.19. That is a gain of 21% in approximately six weeks.
The 200 moving average should be significant resistance and could likely signal a near term market top. The reason why $AAPL has so much power over the market and could possibly signal a top is due to its weighting in the NASDAQ 100. Being the biggest company in the world, Apple literally moves the market.