AAPL Weekly Harmonic Elliott Wave and Hurst's Cyclic Analysis
Overview: In July 22nd, we had AAPL in wave 4 (a 40W cycle trough) and expected the bottom in the middle of August at 185.32. In the update of last weekend, I was tricked by the price action and identified wave 4 bottom being in.
Update: looking into the cycles, I think on Friday we got a 20D cycle trough and now we are starting the second 20D cycle of the second 40D cycle of the second 80D cycle of the second 20W cycle of a 40W cycle. So far, we have overpassed the targets for 40D and 80D FLD crosses (which was completely expected as the trend underlying both cycles is down), so FLDs are not helping us anymore to come up with targets.
I expect the 40W trough on 25-29th of August.
Now, looking into the structure on the hourly chart, I think we are having wave 4 as a triple zigzag.
Based on the retracement of wave 3, I have 175.59 or 170.89 as my potential targets for wave 4 bottom (definitely 170.89 is my preference based on the structure).
Right now, we are in wave c of x of 4 (a flat correction), going up to 182.03. Topping probably on Wednesday, then we start wave z of 4.
Summary: I expect wave 4 bottom (40W trough) on 25-29th of August at 170.89.
Update: looking into the cycles, I think on Friday we got a 20D cycle trough and now we are starting the second 20D cycle of the second 40D cycle of the second 80D cycle of the second 20W cycle of a 40W cycle. So far, we have overpassed the targets for 40D and 80D FLD crosses (which was completely expected as the trend underlying both cycles is down), so FLDs are not helping us anymore to come up with targets.
I expect the 40W trough on 25-29th of August.
Now, looking into the structure on the hourly chart, I think we are having wave 4 as a triple zigzag.
Based on the retracement of wave 3, I have 175.59 or 170.89 as my potential targets for wave 4 bottom (definitely 170.89 is my preference based on the structure).
Right now, we are in wave c of x of 4 (a flat correction), going up to 182.03. Topping probably on Wednesday, then we start wave z of 4.
Summary: I expect wave 4 bottom (40W trough) on 25-29th of August at 170.89.
