Apples CEO, Steve Jobs, will be on the cover of the current number of TIME MAGAZINE, which will hit the streets on April 12 - 2010.
The inventor of the "Magazine Cover Indicator" Paul Montgomery found, that when a company's CEO appears on the cover of a weekly magazine like TIME or NEWS WEEK at the same time as the company's stock prices makes new highs the final high will be found within four month after the CEO's apperance.
Looking at the chart of Apple (Ric: AAPL) below, we can see that prices more than doublet in price over the last year. Drawing a wave 2-4 channel wave 5 have just broken above the resistance line drawn from the top of wave 1, which points towards a important top close by.
As can be seen the RSI indicator also shows clear divergence warning of a possible top being close at hand.
Apple have been one of the leaders of the rally since early 2009 and migth be forwarning, that the rally is drawning to a close.
The "Magazine Cover Indicator" is not the holy grail, but it has worked wonders so many times, that one just can't ignor it.
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