On April 23rd, I wrote a piece called, “Can Apple Bring the Market to One Love?”

I ended the piece with “Therefore, an influencer like APPL, should it run after earnings, will help the market sing, Let's Get Together and Feel Alright.”

The Jamaican references come from our recent trip.

So, here once again, is a photo of fruit vendors in Negril. 

The Jamaican apple is quite different than the ones grown in the u.s.

They are deep red, almost purple, and on the tart side.

Yet, tart or sweet, apples do not fall from their trees. And AAPL, the company, certainly proves that it has not fallen far from the market tree.

Or, we could say that the market tree has kept a close eye on its AAPL.

Given that all the resistance areas mentioned lately were pierced today, and AAPL trades on new all-time highs, is there anything that can stop the market now?

We still believe that stagflation is a real concern for the next quarter and beyond.

For now though, the market fruit vendors are pushing apples while they are still ripe.

The Russell 2000 (IWM) had to clear 158 after coming in with an inside day.

It did.

And Transportation (IYT) had to clear 188.10 to put it in an unconfirmed bullish phase.

It did.

IYT continues to serve as a reliable indicator for the perception of the US economy. With rising oil prices, today's action in IYT is more sweet than tart.

Semiconductors, cleared 102 improving the picture for technology in the near-term. That set some of our faves in motion—CREE, NVDA, and MU.

So, why am I still concerned?

Here's a tweet for you:

“TRUMP ADMINISTRATION is now involved in at least six major first-rank international disputes:
* Iran nuclear sanctions
* North Korea nuclear programme
* China trade war
* EU/Japan et al steel tariffs
* NAFTA re-negotiations
* Russia sanctions”

Thus far, the price action has shrugged off everything that would normally put it into a tailspin.