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January 28th, 2014: AAPL Wave Count Update

Posted by pugsma on January 28, 2014

12:10 pm EST:  With AAPL price falling below $514 ($511 dividend adjusted) a revised wave count is needed.   It looks like major [3]-P5 topped at $575 and a major [4]-P5 correction is underway.   Since major [2] took the form of a sharp A-B-C, Zig-Zag, the guideline of alternation suggests that major [4]-P5 could take the form of a slow triangle wave.  The typical major [4] 38% fib retrace of major [3] is at $504 and today the AAPL price hit $502 thus far.  It’s possible that this move down from $575 to $502 is over or just about over and is a minor A of major [4] wave of a large A-B-C-D-E ascending (or contracting) triangle that will take several mouths to complete.   As long as the major [1]-P5 high of $466 ($460 dividend adjusted) is not violated during major [4]-P5, this new AAPL wave count remains valid and a major [5]-P5 wave should make a new high above the all-time high of $705 something during late 2014 to early 2015.

AAPL 60-min chart (mid-day):

PUG AAPL 60-min chart MD 1-28-14

AAPL 4-hr chart (mid-day):

PUG AAPL 4-hr chart MD 1-28-14

AAPL daily chart (mid-day):

PUG AAPL daily chart MD 1-28-14

AAPL weekly chart (mid-day):

PUG AAPL weekly chart MD 1-28-14

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