The S&P 500 has broken above the 200 day moving average, and has many bulls excited and believing a large, sustained rally is on its way. Personally, I'm skeptical that a rally will last very long, and believe a downturn will resume within 6 months. Moreover, I would suggest bears have the upper hand so long as the market remains below 410. In any event, bulls should keep an eye on the fundamentals and price action of many mega cap stocks that drive the value of many large index funds. Below we examine the fundamentals of Apple and Tesla, comparing them against each other. Admittedly, there are some signs of strength here.
