September 3rd, 2014: AAPL Wave Count Update
Posted by pugsma on September 3, 2014
4:40 pm EST: Here is an important update to the AAPL primary wave count and a new alternate (blue) based on today’s larger than expected price drop (103.74 to 98.5).
The primary wave count is that wave (4) of minor 5 of major [3]-P5 is either complete at 98.58 or nearly complete. There should next be one more move higher in wave (5) of minor 5 to complete major [3]-P5 at the 104.34 target where [3]=4.21*[1]. There is also a wave (5)=(1) target at 105.73. Note that primary count remains valid for wave (4) above the wave (1) high of 96.80.
For the alternate (blue) wave count major [3]-P3 topped at 103.74 and the major [4] correction is underway headed for at least the 23% of 92.65. This first move down for 103.74 to 98.58 would be all or most of minor A of major [4]. Once minor A is complete, there should be a minor B wave bounce of about a 50% retrace to 101.16 before a minor C drop to 92.80, where C=1.62*A.
AAPL 60-min chart (EOD):
AAPL 4-hr chart (EOD):
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