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.
frtaylor - your count looks
AAPL - 5 waves down?
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!