AAPL Weekly Harmonic Elliott Wave and Hurst's Cyclic Analysis
Overview: it's been weeks that we have been expecting the 40W cycle trough. A summary of the update of previous weekend is that:
"we were in the last 5D cycle of the current 40W cycle. I am expecting the 40W trough to form early next week."
Update: we missed the last minor push lower and the 40W cycle trough was formed on August 18th.
This is the start of a bullish phase to the 210-220 zone by the end of October/first week of November.
Analysis of the Structure:
We are in wave 5 of (A) now. Looking into the hourly chart, I see wave c of (I) of a of 5 under development.
Based on the same reasoning as TSLA update, we are going to rely on the cyclic analysis to come up with targets for the upcoming wave (I) peak.
Analysis of the Cycles:
With the 40W cycle trough being in, we are inside the second 40W cycle in the current 18M cycle now.
Yesterday, we completed the first 10D cycle in the current 40W cycle. The target that the 10D FLD cross had generated for the past peak was 180.4 and what we got on Thursday was 183.34.
The fact that we overshot the FLD target and formed the peak so late in the cycle shows the strong underlying bullish trend, as it was expected.
To come up with potential targets for the upcoming peak, we would rely on the 20D cycle. The target that the 20D FLD cross has generated is 185. Again, we have a bullish underlying trend, so we are expecting to overshoot this target. The 20D cycle trough is going to happen on September 1st or September 5th.
Summary:
We are in wave (I) of a of 5 of (A). I am expecting a bullish move to the upside to ~186 in the coming week and then the pullback for wave (II) happening on September 1st or September 5th.
"we were in the last 5D cycle of the current 40W cycle. I am expecting the 40W trough to form early next week."
Update: we missed the last minor push lower and the 40W cycle trough was formed on August 18th.
This is the start of a bullish phase to the 210-220 zone by the end of October/first week of November.
Analysis of the Structure:
We are in wave 5 of (A) now. Looking into the hourly chart, I see wave c of (I) of a of 5 under development.
Based on the same reasoning as TSLA update, we are going to rely on the cyclic analysis to come up with targets for the upcoming wave (I) peak.
Analysis of the Cycles:
With the 40W cycle trough being in, we are inside the second 40W cycle in the current 18M cycle now.
Yesterday, we completed the first 10D cycle in the current 40W cycle. The target that the 10D FLD cross had generated for the past peak was 180.4 and what we got on Thursday was 183.34.
The fact that we overshot the FLD target and formed the peak so late in the cycle shows the strong underlying bullish trend, as it was expected.
To come up with potential targets for the upcoming peak, we would rely on the 20D cycle. The target that the 20D FLD cross has generated is 185. Again, we have a bullish underlying trend, so we are expecting to overshoot this target. The 20D cycle trough is going to happen on September 1st or September 5th.
Summary:
We are in wave (I) of a of 5 of (A). I am expecting a bullish move to the upside to ~186 in the coming week and then the pullback for wave (II) happening on September 1st or September 5th.
