December 22nd, 2013: AAPL Wave Count Update
Posted by pugsma on December 22, 2013
1:10 pm EST: AAPL continues to move higher per the primary wave count. It was a little tricky this past week when AAPL dropped to 538.80 during wave iv-(3) of minor 3 of major [3]-P5. The wave i-(3) high was 539.25, so it looked like a wave iv into i rule violation. However the wave i-(1) high at 539.25 was made before the Nov 6th, 2013 3.05 dividend. Thus, the equivalent wave i-(3) high post dividend was 539.25-3.05 or 536.20. Thus, the wave iv-(3) drop to 538.80 did not violate the wave i-(3) high. The wave (3) target is at 605, where wave (3)=2.62*(1) and the minor 3 target is at 650,where minor 3=1.62*minor 1. The cup and handle target is also at 645 agreeing with this area.
AAPL 60-min chart (EOD 12-20-13):
AAPL 4-hr chart (EOD, 12-20-13):
AAPL weekly chart (EOD, 12-20-13):
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