AAPL Update: 4HR ChartAs promised, here is my next zoomed in chart. Today I am updating AAPL. Looking at the chart it appears to me that we are in our final wave 5 of this move up. If this is the correct count, then we should breach the $200 level soon and raise into my target box to finish out this move up. This would also be the end of our Super Cycle wave (I).
This indicates we will spend the next few YEARS-DECADES in a downward trend. Looking at the economy this shouldn't come as much of a surprise to anyone paying attention. According to EWT everything happens in a cyclical manner, and this has been proven time and time again. Why people still refuse to believe it is beyond me. If you read my last post, I created an ideal box for wave (II) to end at. Yes, that is a huge drop I am forecasting, but just keep in mind this will be a consolidation of price action that originated when AAPL first went public and was trading around $0.05cents/share. As I just said, we are about to cross the $200 mark...
Don't forget wave 2's of any degree are unpredictable and can be shallow or deep. Hopefully, in the first quarter of next year I will have the opportunity to teach everyone reading this even more about how I come up with these types of analysis. For now, I will leave you with my chart to judge and compare to price action.
Bonam Fortunam,
--Tyler