After a 5 month trading range from Apr-Sept, AAPL climbs 15% and that's after running up almost 300% after the March 09 low. I think a 6% giveback is not too much to ask.
It's obvious things can't run up forever without some type of pullback. So if we pulled back tomorrow and started minute [iv] down, I wouldn't be too surprised though the market still needs to prove that.
The charts below still tell me that things are bullish.
The INDU has now retraced just over 94% of the Apr decline. The odds that this is a minor 2 up in a Primary wave 3 down should be at the very bottom of one's count list.
It should be an alternative to the alternative to the alternative. Could it be the top of a B wave up following the Jul 2010 low? I give that more weight for sure.
Look at the NDX below. That's even more bullish.
The NDX has now climbed over two long term trendlines and backtested both successfully.
