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Has Apple (AAPL) Become the Market?

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“I'm not smart. I try to observe. Millions saw the apple fall but Newton was the one who asked 'why.' “ - Bernard Baruch, legendary investor

While Sir Isaac Newton was able to achieve a moment of scientific insight regarding the phenomenon of gravity through his visceral observation of the behavior of apples falling from a tree, these days one seeks slightly different insight into the state of today’s stock market by observing the role of Apple, Inc. (AAPL) in the current environment.

What is observable in this instance is that the direction...

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