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):
AAPL 4-hr chart (mid-day):
AAPL daily chart (mid-day):
AAPL weekly chart (mid-day):
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