The new Apple Watch is expected to be on show. The media has been in a frenzy over the last week or so, speculating what the watch will be capable of, how long the battery will last and so on.
You would’ve thought all that hype would have lifted Apple’s sentiment - which has been near flatlining for a few months now. But no, if anything it’s weighed on sentiment as you can see from figures 1 & 2, which show the relative change in sentiment vs the share price and the relative strength of Apple’s share price in figure 2.
Not much to conclude here, apart from maybe the market is expecting to be underwhelmed by the Apple Watch. Of course, there’s always the chance of Apple springing some cool surprises and that might be a catalyst to get the price moving again.
The sentiment Relative Strength Indicators are produced by finding the novelty-weighted sum of all event sentiment concerning the company each day and then calculating traditional 14-day and 90-day RSIs of this sum.