Risk on, Risk off; Risk on Risk off...The Risker!

Much like the vintage commercial of The Clapper," above, markets are showing increased corrections regarding "risk on" and "risk off" global assets, be it copper, China, crude, Treasuries, currencies, or high beta equities. 

Although we have not seen a deep correction in U.S. equities in many years now, sensitive risk correlations tend to be one of the hallmarks. 

As such, a premier stock like Apple, seen below on the daily timeframe, is worth watching closely here to see if it is now bear-flagging along its 150-day moving average (red line). Clearly, the stock has been consolidating for the winter months. 

But for our purposes we want to see if it is a mere pause in a longer-term bull run, or instead the beginning something deeper, which would likely necessitate clapping twice for a risk-off environment.