Home > stock charts, Stock Market, technical analysis > Smaller caps outperform, AAPL struggles

Smaller caps outperform, AAPL struggles

The S&P has now solidly cleared its downtrending channel and it’s nearing its February high of 1344.  Given the strong performance of small and mid caps, which have both moved to new highs, my guess is that the S&P will follow them to new highs for the year.  Below is the IWM (Russell 2000 small-caps) ETF, at 2011 highs.

One very interesting note is the continued underperformance of tech, led by its pace-setter, AAPL, which has yet to clear its downtrending channel.  My feelings about AAPL are unchanged, but it’s interesting and a bit surprising to see AAPL struggling while the broader market moves to new highs.  I suspect one will start dragging other sooner rather than later.

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