APPLE Daily Elliottwave Analysis

From wave ((x)) low in May 2012, Apple moved in 5 impulsive waves. Wave I ended at 82.16 and is subdivided into 5 waves. Wave II ended at 70.51 and unfolded in 3 waves. Wave III unfolded in 5 waves and ended just beyond 1.618 ext of wave I-II ending at 119.75. and is subdivided into 5 waves. Wave IV retraced between 23.6- 38.2 Fibonacci retracement zone and ended at 104.63. Wave V higher is in progress and should unfold in 5 sub-waves. Wave (I) of V ended at 113.25, wave (II) of V ended at 105.20, wave (III) of V completed at 13360, wave (IV) of V ended at 121.63 and wave (V) of V higher is now in progress and expected to end between 136.42 – 141. This is the inverse 1.236 – 1.618 Fibonacci extension area and is the typical area for wave (V) to finish. From this area, we can expect a big 3 wave pull back in Apple (AAPL) to correct the cycle from ((x)) low or at least a 3 wave pull back to correct the cycle from red IV low @ 104.63.

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