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January 14th, 2013: AAPL Count Update

Posted by pugsma on January 14, 2013

11:20 am EST:   AAPL fell below the 505 level, which invalidated the primary count and confirmed the alternate (blue) count.  I have been indicating that this alternate (blue) count looked like the correct path given recent the failure at 555.  It now looks like AAPL is in the process of completing the 3 push down (i.e. 506, 501 and so far 498) Ending Diagonal (ED) pattern for major [C]-P4 at the daily and weekly chart lower support line.

That first target for the final push down is at (c)=(a)=492.  The drop to 498 this morning looks like a perfect iii=1.62*i for this final wave (c) of minor 5 of major [C]-P4.   The bounce here would be wave iv-(c) to be followed by a wave v-(c) drop to 492.   However, if the wave i-(c) level of 516 is breached then the (c) low will be in place at 498 (see the 15-min chart).

There is also an even deeper (c)=1.62(a) target at 467, which is right at the ED limit of 461, should AAPL continue to drop below 492.

AAPL 15-min chart (mid-day):

PUG SP-AAPL 15-min mid-day 1-14-13

AAPL 60-min chart (mid-day):

PUG SP-AAPL 60-min mid-day 1-14-13

AAPL 4-hr chart (mid-day):

PUG SP-AAPL 4-hr mid-day 1-14-13

AAPL Daily chart (mid-day):

PUG SP-AAPL Daily mid-day 1-14-13

AAPL Weekly chart (mid-day):

PUG SP-AAPL Weekly mid-day 1-14-13

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