bageltokki
Long

AAPL - wave 4 from 89?

NASDAQ:AAPL   APPLE INC
84 0 3
AAPL             looks to be on wave 4 of a 5 wave up from 89s, the last uptrend for aapl             stopped right at the 168% fib extension from the wave 1-2 pattern

Coincides with SPX's possible wave 4 pullback? currently holding SPY             218 puts for Sept 2nd expiry.

Will wait to see how AAPL             reacts when it gets close to the fib (102.99), which also is in the same range as the 200 and 50 SMAs.

If whole wave plays out and wave 1 = wave 5, aapl             should see 115 region.

Plan: Long AAPL             call options when aapl             gets close to 102.99, will use SPX's levels around then to determine if pullback is over and SPX             is primed for wave 5 to 2300s.
Comment: Update: Gap fill would also be nice to see at 100.78

that would give us 50% fib and gap fill and is the lowest aapl to go for this 5 count wave to be valid so wave 4 doesnt go past wave 1 top.

entry at 103
stop at 100
target 114~115

Risk:Reward > 1:3
Comment: going for gap fill at 106.7 maybe, might be a good short point from there down to 103 or 100s. SPY is also having a nice bounce/retrace.

will consider shorting at 106.7 for 103 puts next week
Comment: 20 EMA holding strong.. but as Gann said.. no such thing as quadruple top, next test should break that 106.5 resistance
Comment: hm so gap did fill but I was out getting lunch so i didnt get to enter my put

might be a good thing considering how AAPL has news next week (Sept 7) , will wait to see what happens after that for IV to die down
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