AAPL Weekly Harmonic Elliott Wave and Hurst's Cyclic Analysis
Overview: since July 22nd, I had AAPL in wave 4 (a 40W cycle trough) and expected it to bottom in the middle of August and my price target was 185.32. Also, I had wave 4 developing as a double zigzag.
Update: AAPL's earning report made the rest of wave 4 to happen a bit faster than we expected.
As a result and based on the FLD crosses/targets that we got, I am doing a little bit of change to my cycle's analysis. I think we were already in the second 40D cycle (not the first as we expected in the previous update) of the second 80D cycle of the second 20W cycle of this 40W cycle.
I see wave 4 being complete at this point as a clear flat correction and the bottom price was 181.72, lower than we expected (185.32), but still we could benefit from this nice move.
What this means in terms of cycles? this means we formed the 40W cycle trough on Friday and AAPL will bounce to the upside as wave 5 of (A). One important detail to mention is the target that the downside break of the 80D cycle trough had provided: ~183.4 and because of its trend that was down, we would expect it to be overshot, which actually happened.
For wave 5, I have a price target of 218.75 and I expect it to happen in the first week of October.
Update: AAPL's earning report made the rest of wave 4 to happen a bit faster than we expected.
As a result and based on the FLD crosses/targets that we got, I am doing a little bit of change to my cycle's analysis. I think we were already in the second 40D cycle (not the first as we expected in the previous update) of the second 80D cycle of the second 20W cycle of this 40W cycle.
What this means in terms of cycles? this means we formed the 40W cycle trough on Friday and AAPL will bounce to the upside as wave 5 of (A). One important detail to mention is the target that the downside break of the 80D cycle trough had provided: ~183.4 and because of its trend that was down, we would expect it to be overshot, which actually happened.
For wave 5, I have a price target of 218.75 and I expect it to happen in the first week of October.
