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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):

PUG AAPL 60-min chart MD 7-1-13

AAPL 4-hr chart (mid-day):

PUG AAPL 4-hr chart MD 7-1-13

AAPL weekly chart (mid-day):

PUG AAPL weekly chart MD 7-1-13

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