Markets Try To Roll, Apple Keeps Them Up
The markets are attempting to roll over in into lunch. The SPDR S&P 500 ETF (NYSEARCA:SPY) hit a new 52 week high in the first hour of the trading day at $140.45. Since that point it has fallen nicely. The SPY is now trading at $139.93, -0.13 (-0.09%). While the markets are fractionally lower, they cannot fall further due to Apple Inc. (NASDAQ:AAPL).
Apple makes up a huge percentage of the overall market. As long as this stock is strong, the markets cannot have any significant rollover. Apple is currently trading at $581.88, +13.78 (+2.43%). Once Apple rolls over, this market will follow.