Thursday, October 25, 2012

10/25/12 - EOD Update

Yesterday I suggested that a flat was in the works, which would result in a lower low. Today, the flat played out.

5 Min
Green looks like it may have completed five waves off the 10/18 high. Red is looking for something more bearish.

Based on the 60 min chart below, the five waves off the 10/18 either caps off {iii} down of a five wave impulse down from 10/5 or the double (wxy) zigzag orange option is complete.

60 Min 

AAPL - 60 Min 
AAPL has extended beyond its H/S target and now has wave 3/C meeting the 1.618* extension target.
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