Monday, June 6, 2011

6/6/11 - EOD Update [10:00 PM Update : AAPL]

[10:00 PM Update : AAPL]

Just a random count on AAPL. It appears to be triangulating so we'll see...

EOD Update

I don't have access to StrategyDesk at the moment so I will post via TOS. The triangle is still in play along with the potential for a more bearish flat for Minor 4. Keep in mind that a triple positive divergence is building on MACD at the 5 and 15 intervals.

5 Min

If this internal count is correct, the market may have put in the low for wave [c] of the triangle. This may be counted as a three wave structure off the X wave (see triangle chart below).

Triangle Option

Notice that wave Y = W as of today's low? Y may extend 1.618* as well but that will rule out the triangle and call for a flat as highlighted below which supports the head and shoulders pattern.

Notice that the head and shoulders pattern targets the same Fib extension of 1.618*?
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