by Rick Ackerman
RickAckerman.com
AAPL has blown past a longstanding rally target at 370.15, implying it is bound for yet another at 385.487 that lies a further 5.4% above. Because the stock is almost certain to get there, the broad averages can be expected to move higher with it. This seems hard to believe, given the grim turn that pandemic news has taken. Fauci sees no slowing of Covid-9’s spread this summer and downplayed the idea that hot weather can affect it. That is turning out to be true in hot, muggy Florida, which in the last few days has shot up to the top of global trouble spots. Businesses struggling to survive until ‘something’ changes the picture for the better are going to have a rough time getting though the summer. However, if AAPL continues to lead the charge on Wall Street as it has been doing for years, it would mean that none of the foregoing will even remotely faze stock-market bulls.