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With Apple being the largest company in the world, what Apple does has ripple effects that are beyond measure.

First off, Apple remains inside of a 35-year rising channel. Of late it was within 15% of hitting the top of its channel. No doubt the trend is up.

At this time Apple is testing a support line that could have ties back to its 2002 lows.

It’s early in the month. What Apple does with this support line test could have a large impact on key stock indices going forward.

If Apple is to bounce, it could happen off this key support line.

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Emerging markets ETF EEM doesn’t have much to brag about since 2007, as its down 30% from its highs

It doesn’t have much to brag about the past three years either as its at the same price as it was in 2012, while so many market are much higher than 2012.

EEM is testing sideways channel support at (1) above. So far its been a good place to buy EEM on this support line. Will it be different this time?

If channel support would happen to give way, Emerging markets could turn into “Sub-merging” markets, as frustrated owners of the ETF could ramp up selling of shares.

Big test in play friends!!!

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The VIX (Fear Index) has shot up of late on a very small decline in the S&P 500.

Did it get ahead of itself?

A small decline in the S&P 500 has the VIX hitting resistance based upon the 2009 highs.

For the past few years fear has peaked at this falling resistance line, will it be different this time?

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