The sloppiness of the current wave environment hints to AAPL being stuck in a 4 within a 4. the Clarity of the 5 wave move into the 700 high is very easy to see was probabily a larger wave B, within our current larger 4 corrective environment.
Things that cant be ignored. 1. Lots of whipsaws on trend following systems. - Hints to the corrective like moves we are making. frustrating the bulls and the bears who are making outlandish calls of collapse or liftoff into orbit. 2. Deep oversold and Deep overbought readings on oscillators - Lack of conviction for either bulls or bears will shake out the weak hands and build a surplus of shorts that will be ran out on the last blowout high run to 720 780. 3. Long term trend was getting quite parabolic so it is very expected to have a "rest" or digestion of the move
Forecast : Bullish in the Near term (Next 3 weeks) Neutral in the Mid term (range bound till the end of the year)
Comments
phomans
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Disagreed.
phomans
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Followed.
phomans
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Its also quite possible, in fact likely, that we completed a 5 up to the absolute high-although I grant you it is short-term oversold-Question, how is one to interpret the CCI, and why is the periodicity 20 periods, as opposed to 14 or 9 used by RSI, ROC, etc.? And I agree with Max-you regularly have 2's declines and 4's declines, overlapping with 1 and 3, which is a no-no. Maybe Prechter and Elliott are wrong-but since they represent the eminence grise(s) in the WAVE area, one should, if one is going to use labellings of this nature, one should derive one's counts to be inline with their guidelines-which are not many, but ARE specific.
market-talk
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I dont agree with the waves theory, but based on the CCI it is a possibility . However, I think it will break down.
market-talk
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Followed.
max_andronichuk
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Your elliott wave labels are all over the place... breaking all the rules along the way