Follow The Leader
This morning, the major stock indexes are all inflating and trading higher. Most of the market leading stocks are trading higher on the session, however, there are a few that are showing some weakness and this should be noted by serious traders.
Apple Inc (NASDAQ:AAPL) is the world's largest stock by market capitalization valued at $368.5 billion. This stock is the most important technology stock in the world for investors. AAPL stock is trading lower by $3.24 to $392.04 a share. Whenever a market leader is not participating with the overall markets it is telling us that the stock has weak relative strength. Traders should always remember that market leading stocks must lead and this stock is now clearly lagging. AAPL stock will have intra-day support around the $382.00 level.
Other market leading stocks that are weak in this morning's rally include Google Inc (NASDAQ:GOOG), Akamai Technologies Inc (NASDAQ:AKAM), Netsuite Inc (NYSE:N), and Salesforce.com Inc (NYSE:CRM). Traders must remember that when the leaders are weak that is the stock markets way of talking to you.