It will be interesting to see if AAPL (Apple Inc) wows the public next month with the widely expected larger iPhones, this oversized iPad or any other tricks it may have up its sleeve because the chart on AAPL is starting to look ripe for a correction. Besides this steep rising wedge with bearish divergences building on both the RSI & MACD, as this chart clearly illustrates, such overbought clusters on the RSI, such as those recently put in place, have traditionally preceded significant corrections in the stock (dashed red arrows). Along with AAPL, several of the charts from the Live Charts page were updated last night including all of the Market Leading Stocks (AAPL, XOM & CVX) as well as the Sector ETF charts.
AAPL daily Aug 27th