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February 8th, 2013: AAPL Wave Count Update

Posted by pugsma on February 8, 2013

1:00 pm EST:  AAPL hit 477.5 (479 pre-dividend) today, so basically AAPL has hit the 38% retrace target of 481 for minor 4 of the primary count.  This minor 4 move up has reach the upper trend-line of the bullish falling wedge that has formed since the Sept 2012 high of 705.  Note that once minor 4 complete here at 481, the for minor 5 = minor 1 we get a drop of 94 points from 481 to 387 to complete minor 5 of major [C]-P4.  My [C]=[A] target is 396.   Note a move above the minor 1 of major [C]-P4 low at 501 invalidates this primary count and confirms the bullish alt (blue) count.

For the alt (blue) count AAPL must hit at least 486 minor 3 of major [1]-P4 and then minor 4 must hold above the minor 1 high of 463 to remain valid.  A break back below 463 would mean the primary count is correct and a new low below 436 is likely.

So basically now we are looking for AAPL to break below 463 to confirm the primary count or above 501 to confirm the alternate count.

Also, notice on the weekly chart that this move up to 477 is back-testing a the broken weekly trend line.

AAPL 15-min chart (12:45 pm):

PUG AAPL 15-min chart 2-8-13

APPL 60-min chart (12:45 pm):

PUG AAPL 60-min chart 2-8-13

AAPL 4-hr chart (12:45 pm):

PUG AAPL 4-hr chart 2-8-13

AAPL daily chart (12:45 pm):

PUG AAPL daily chart 2-8-13

AAPL weekly chart (12:45 pm):

PUG AAPL weekly chart 2-8-13

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