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The chart above track the S&P 500 along side the ratio of Apple’s stock price to the index. Basically, we’re looking at the stock market and Apple’s relative performance.

What’s I find interesting is the last time Apple underperformed to the same degree it’s underperforming today (back in April) we saw a subsequent 10% correction for the stock market. Surely, this is only one data point but it’s one to keep an eye on, in my opinion.

I recently asked, “is apple setting up to play spoiler for stocks?” It looks like the answer is yes. To what degree, we will find out soon enough.