July 1st, 2013: AAPL Wave Count Update
Posted by pugsma on July 1, 2013
12:45 pm EST: AAPL’s primary count is looking good with a potential double bottom at 385-389, which would target 543 on a break above 466. The primary count minor 2 low is at 389 and minor 3 of major [1]-P5 is underway with a target at 520, where minor 3 = 1.62*minor 1. Ultimately, major [1] should complete in the 540-550 area corresponding to the double bottom target. Note that a break below 389, will invalidate the primary count confirm the alternate (blue) count.
The alternate (blue) count calling for a new low below 385 at 350, will become invalid on a move above 419. The wave (3) of minor 5 of major [C] low is at 389 and wave (4) of minor 5 should stay below the 38% retrace of 415. Once wave (4) completes below 415, the wave (5) should move to at least 368, where (5)=(1). This final move lower would conclude P4.
AAPL 60-min chart (mid-day):
AAPL 4-hr chart (mid-day):
AAPL weekly chart (mid-day):
Sorry, the comment form is closed at this time.
You must be logged in to post a comment.