$AAPL Apple 19 SEPT: Elliott waves | Gann | Planetary Aspects
Apple has topped out right at the Gann level of 157 USD. This level is a 315 degree rotation on the square of 9, measured from the low of March 8. It is 7 times the 45-degree rotation, and 7 is usually associated with the completion of a cycle.
As the Elliott count showed a completion of 5 waves up, this gave us confidence for a short trading idea.
We may look for the next Gann level at 144 for temporary support and potentially the completion of 5 waves down (green count).
If a retracement to the 50-60% area occurs (blue box), AAPL could run into resistance at the 21 day MA and the 150 Gann level, or a bit higher, which is typical for a retracement in wave 1.
Planetary aspects have been working incredibly well on Apple. On 27 SEPT Mars and Sun will conjunct natal Jupiter and Saturn within a few days. Two very important aspects that may coincide with an expansion of volatility.
The equinox is on 22 Sept. Historically, autumn equinoxes often coincide with bearish momentum.
Correlations: QQQ has been bearish on Friday, a follow-through on Monday is to be expected. However, QQQ and SPY still have the possibility to complete the final wave 5, marking a slightly higher ATH next week. We need to observe if such a surprise reversal occurs. Apple has been the bearish leader among major Nasdaq stocks, so that we may expect choppy action in case the QQQ proceeds with a wave to the upside.
China: The Evergrande crisis may continue to escalate. A debt crisis (or the fear thereof) may trigger institutions to reduce assets, which may include AAPL, resulting in selling pressure. We need to keep an eye on Evergrande developments as major debt default crises like to spiral out of control.
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
These abbreviations in the chart are ideas provided as educational information and do not constitute financial advice.
______________
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand (momentum), and to use options premium decay for consistent income when markets may contract (range).
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Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
As the Elliott count showed a completion of 5 waves up, this gave us confidence for a short trading idea.
We may look for the next Gann level at 144 for temporary support and potentially the completion of 5 waves down (green count).
If a retracement to the 50-60% area occurs (blue box), AAPL could run into resistance at the 21 day MA and the 150 Gann level, or a bit higher, which is typical for a retracement in wave 1.
Planetary aspects have been working incredibly well on Apple. On 27 SEPT Mars and Sun will conjunct natal Jupiter and Saturn within a few days. Two very important aspects that may coincide with an expansion of volatility.
The equinox is on 22 Sept. Historically, autumn equinoxes often coincide with bearish momentum.
Correlations: QQQ has been bearish on Friday, a follow-through on Monday is to be expected. However, QQQ and SPY still have the possibility to complete the final wave 5, marking a slightly higher ATH next week. We need to observe if such a surprise reversal occurs. Apple has been the bearish leader among major Nasdaq stocks, so that we may expect choppy action in case the QQQ proceeds with a wave to the upside.
China: The Evergrande crisis may continue to escalate. A debt crisis (or the fear thereof) may trigger institutions to reduce assets, which may include AAPL, resulting in selling pressure. We need to keep an eye on Evergrande developments as major debt default crises like to spiral out of control.
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
These abbreviations in the chart are ideas provided as educational information and do not constitute financial advice.
______________
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand (momentum), and to use options premium decay for consistent income when markets may contract (range).
Get a 14 Days Free Trial: www.constellations.trade
Open an account here if you'd like to support my work:
Deribit - Trade Bitcoin option premium decay strategies here:
www.deribit.com/reg-14912.6680
Binance - 10% off trading fees with this link:
accounts.binanc....me/en/register?ref=LLBB97...
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
Comment:
Looking for completion of 5th wave. DXY may have formed a top and give stocks room to retrace (inverse correlation).
