The fact that Apple ( AAPL) is finally struggling after leading this market for so long is a clear indication that the character of the action has been shifting. Small-caps have already pulled back substantially and leadership is narrowing.

There is reason for caution. We'll stay watchful and see how things develop, but the bears deserve the benefit of the doubt. Earnings, however, will be the excuse that is used for whatever way we move next.
James "Rev Shark" DePorre is the author of Invest Like a Shark: How a Deaf Guy with No Job and Limited Capital made a Fortune Investing in the Stock Market. He is founder and CEO of Shark Asset Management, an investment management firm, and he also operates sharkinvesting.com , an interactive online community that serves and educates active investors. DePorre holds business and law degrees from the University of Michigan, is a member of the Michigan Bar Association and a former tax attorney and CPA. He lives in Anna Maria Island, Fla., with his wife and two children. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Rev Shark appreciates your feedback; click here.

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