AAPL Long Term OutlookHere is the weekly outlook for AAPL. As promised, I am starting to roll out my new coverage list starting with the longer-term charts to give you all a little bit extra perspective. As you can see, we are coming to the end of Super Cycle wave (I). This is the accumulation of 43 YEARS' worth of data. The following retracement we are about to get will consists of all those long term holders exiting their positions and new traders entering. Man do I feel bad for those that are starting to enter on the long side.
As the chart suggests, according to the small box at the top of the chart, AAPL could get OMH into the $220 region. After that, which will most likely be in '24, AAPL should start its multi-year and possibly even multi-decade correction. This means for the next several years-decades the overall bias of AAPL will be DOWN/BEARISH. According to "STANDARD" rules/guidelines, the target area for that correction $42.76-$76.29. That is about a 65% drop from current levels!! This may sound unreasonable to some of you, but that is considered a "normal" retrace according to EWT. Rather it drops that low is another story. It could be a shallow retrace and only drop to the $150 area which would still be a 30%+ drop. Flip side of that, according to EWT guidelines/rules, price could drop all the way to $0.05 cents, but I obviously don't think that will happen.
Until AAPL does in fact top and start to carve out some downside structure/give extra data, I can only forecast what would be considered a normal retrace. Next week I will post a closer look at AAPL and give more detailed short-term targets to finish carving out this (I). Keep in mind though, this is a 43-year cycle coming to an end that has already met the requirements to be considered complete. This means it could technically reverse at any time. Until then good luck!
P.S: I am going to replace SI with COIN as SI doesn't have the volume needed. GC volume is also low, but I have the GLD ticker I can rely on for the volume. At this time, I have 20 shares of COIN @ $137 avg with a sell target around the $200 range. Not to mention when the BTC ETF finally gets listed, COIN will get a HUGE boost from that IMHO.
So far people have suggested I cover AMZN, AMD, & SPY along with a couple others. These three seem to have the most requests at this time though. I have them listed as possible in my coverage list and will most likely put out periodic updates on them. If others wish to see these added to my coverage list let me know. The more people that suggest them, the higher they move up in my ranks.
Bonam Fortunam,
--Tyler