AAPLE Update: Following me path thus far

8 janv. 2024

In my last post I alluded to the fact that Apple had in fact topped and we were starting our trek to the downside. I mentioned that we should hit the 1.618 area and then bounce for our next b wave. Well, we dipped one fib lower and tagged the 1.786 before we started to retrace higher. On the chart I have labeled the next target area to conclude this b wave before dropping again for another c wave. This will just keep sub-dividing more and more as this is, IMHO, a super cycle wave (II) event that will last years if not decades.

I would like to see this raise to at least the blue 0.618 but that is not a requirement. The most important thing is to track the structure. This move up should be a 3-wave move into my box (mini abc). Right now, price action appears to still be in its mini a wave. MACD seems to support this as well. The next move after we finish this retrace higher will be strong to the downside so make sure if you're trying to go long in this thing (ill advised) then use stops to protect your assets.

11 janv. 2024

Note

Apple is also following my path that I laid out for it. So far it appears b wave is complete. If it is in fact complete, that puts my refined C of b wave target right in between the 0.618-0.786 retracement fibs, which would be an "ideal" spot for it to end before the downward trend resumes. Once it reaches my target box, I will most likely buy a put or two.