Wednesday, October 3, 2012

10/3/12 - EOD Update

15 Min
We should probably see whether the wave structure commits to the green or purple option tomorrow.

Green is looking for a 3of3 move higher out of the descending channel. Purple is looking to drop in a wave (iii) of {c} of y. It should be noted that y=w at 1412 and .618*w at 1430.

Bulls do need to prove that they can break out of the descending channel.

AAPL 60 Min
AAPL broke out of the TL and the 60 min +ve MACD divergence has been confirmed. It is possibly looking to form that right shoulder some more. 680 would equal the left but it does not have to make it there.