May 20th, 2013: AAPL Wave Count Update
Posted by pugsma on May 20, 2013
1:20 pm EST: The primary count for AAPL is that minor 2 of major [1]-P5 bottomed at 419. Minor 3 is underway with a target of 519, where minor 3=1.23*minor 1. It looks like the initial move from 419 to 440 was wave (1) of minor 3 and the move down to 430 was wave (2). Now wave (3) is underway with a target 485, where (3)=2.62(1). For this count to remain valid the minor 2 low of 419 must not be breached, before a move above the minor high of 466.
The alternate (blue) count is that 419 was the wave (a) of minor 2 low and this current move up is a (b) wave of minor 2 with a target of 448 or a 62% retrace. Once (b) is complete there will be a wave (c) of minor 2 down to a 401 target area, where (c)=(a). The 78% retrace of minor 1 is at 403 and the 88% retrace is at 395. For this count to remain valid 466 must not be breached, before a new low below 419.
AAPL 15-min chart (mid-day):
AAPL 60-min chart (mid-day):
AAPL 4-hr chart (mid-day):
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