There are couple of variation of counts and I am posting the one with which I am more confident. I can understand that this chart like many of my other charts will raise eye brows and Apple Inc is very popular with many investors who have done really well over many years will likely find my chart unacceptable.
However, as you can see from correlation with NASDAQ which is in major cycle wave B. Like all Major Indices, NASDAQ has topped or very close to doing so.
For details of why this Top in the market is so significant check my other Youtube videos and in particular the one published today Link :
Along with all Equities, Major Bullish Cycle for Apple appear to be ended in October 2012.
If correct, then we already have completed wave A decline and wave B retracement which actually retraced little more than 100% (potential expanded flat) as result of the momentum leading up to 2012 top being so strong that it is spilled over to wave B to the upside.
That said, the current top now has second degree divergence with momentum and potential double top being in the making. This could offer excellent shorting opportunity. Though please note that this is an outline of expected move not necessarily exact path or price target. That you will be able to work out with further price data as we go along.
As always you should do your own analysis for your needs.
Select to follow me and if you approve of my analysis, let me know by your positive comments and thumbs up.
Also follow the chart of all updates and interaction with wider community as I anticipate lot of action on this post.
I caught the news today, and it seems so many large retailers are poo pooing ApplePay I really don't know where it can go. Did Apple know that the CVS's and the WalMarts etc have to like it too? Oops !
cwikinvest
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I alsow go short because i am structure traders but i have some bad feeling about this big profit wich come from iphone 6 sales. Each time when Apple relase new phone their stock go up. But i am trading what i see on chart so i waiting for New Structure Low and after this i will be looking for pullback and short entry.
DanV
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I think earnings out on Monday. It could act as a blow off top. Or just collapse if there are any disappointments. But close to topping if not already. Will be very interesting.
minbari
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Oh my God Dan... first 'face the music' and now this, you are on a pun run
DanV
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Hehehe. Thanks for you comment. But now it seems this or similar scenario will be all over other stocks in the market. So for now the potential looks very interesting.
DanV
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Closer look at the top in the making
gordengekk0
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everything seems to go up on less and less volume today, definitely worth a watch...
AAPL now up to the Fibonacci R2 level, wondering if it can go and hit R3 at 107.81 maybe higher first.
market has just been too unpredictable today,,,,,I'll keep focused on this potential play.....thanks
DanV
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You are welcomed. It is possible for Apple to even reach 110 but as you said worth keeping close eye on reversal. Thanks for your comments.
gordengekk0
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OK i'll be watching for any further updates from you and I'm also tracking some of
your other posts as well, best of trades,,,,,Gordon,,,,,,,$$$$$