Apple stock continues to lead the market higher

With Apple stock continuing to move higher, the bulls are going to need the compnay to continue its rally if they want the rest of the market to enjoy a sustained move up — even if this is just a bear-market rally.

Bret Kenwell for TheStreet:

After four robust days, Apple stock has not only cleared last week’s high and the 21-day, but it’s now trading up into the 10-week and 50-day moving averages.
These are two very key measures that I think can determine the short-term direction for the stock.
Notice that both the 10-week and 50-day moving averages have been notable resistance over the past few months. If Apple can clear these measures, it creates more upside potential. If it’s rejected, that may indicate the market needs a rest, too, and/or will also struggle with these measures.
If Apple stock clears the 10-week and 50-day moving averages, it puts the $149 to $150 area in play.

MacDailyNews Take: Apple is currently trading up $3.12 (+2.19%) to $146.04.
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