Friday, November 2, 2012

11/2/12 - EOD Update

The market continues to make lower highs and lower lows but also appears to be wedging. If the bulls want a shot at the 1474 high, they need to get moving soon here.

SPX - 3 Min
Green and Orange moving right along. Wave (c) of ii orange is nearly 1.38 * wave (a) of ii.

SPX - 60 Min 

AAPL - 60 Min 
AAPL is extending lower. Note the 2.618* extension target.

AAPL - Weekly
The weekly shows that short term support may hold at 570 before a bounce. After that bounce, we'll have to see if it truly is a right shoulder before heading lower to 520.

Have a great weekend!
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