Posted by frtaylor on 11th of Jul 2012 at 03:58 pm
If this wave count is correct, we may have seen a short term top
on AAPL, although I admit I will only believe it when I see it.
Earnings coming July 21 I believe. Only a 15 min chart,
too.
well perhaps my weekly bear flag could still play out?
earnings is later this month I think however.
At least for now, the MACD has not responded well on the
bounce, still continues to suggest the bear flag
frtaylor - your count looks correct to me which would imply
another push down once the bounce is complete. The only exception
to this would be that the 5 waves down represent a C wave of a
possible expanded flat (less likely). Thus, one should now be
watching for a Fib retracement of this move down that is broken in
a corrective structure (3 waves). Normally a corrective wave back
up would be limited to a .618 FIB or less but must not take out the
recent highs. I hope this helps clarify things.
AAPL - 5 waves down?
Posted by frtaylor on 11th of Jul 2012 at 03:58 pm
If this wave count is correct, we may have seen a short term top on AAPL, although I admit I will only believe it when I see it. Earnings coming July 21 I believe. Only a 15 min chart, too.
Yesterday's corrective move off wave
Posted by frtaylor on 12th of Jul 2012 at 10:44 am
Yesterday's corrective move off wave 5 hit the 23.6% fib, I guess that's all it had in it.
well perhaps my weekly bear
Posted by matt on 12th of Jul 2012 at 10:49 am
well perhaps my weekly bear flag could still play out? earnings is later this month I think however. At least for now, the MACD has not responded well on the bounce, still continues to suggest the bear flag
I think so. I'll keep
Posted by frtaylor on 12th of Jul 2012 at 10:51 am
I think so. I'll keep an eye on it. Might short the QQQ if it breaks. Don't like the idea of shorting AAPL!
frtaylor - your count looks
Posted by steve on 11th of Jul 2012 at 04:39 pm
frtaylor - your count looks correct to me which would imply another push down once the bounce is complete. The only exception to this would be that the 5 waves down represent a C wave of a possible expanded flat (less likely). Thus, one should now be watching for a Fib retracement of this move down that is broken in a corrective structure (3 waves). Normally a corrective wave back up would be limited to a .618 FIB or less but must not take out the recent highs. I hope this helps clarify things.
Very helpful, thank you Steve
Posted by frtaylor on 11th of Jul 2012 at 05:37 pm
Very helpful, thank you Steve (and Matt for the pm).
Thank you Steve, that's very
Posted by sbwoman on 11th of Jul 2012 at 04:55 pm
Thank you Steve, that's very clear!
would that mean correction completed?
Posted by sbwoman on 11th of Jul 2012 at 04:30 pm
would that mean correction completed?