10/2/12 - EOD Update [1:53 PM Update]

[1:53 PM Update] 

AAPL Daily

Forgot to add the daily -ve MACD divergence as well.

 EOD Update

15 Min

Looks like near term the market broke out of the falling wedge and continues to post higher lows so I would favor the green option, which is calling for a wave iii move higher tomorrow.

However, the purple count also adds the option that a leading diagonal wave {a} of y completed with a {b} bounce that started into the close.

As you will see with AAPL below, the potential head and shoulders pattern for AAPL could be hinting that the purple option may have some credibility.

60 Min

 Looks like wave iii of 5 may be on its way.

AAPL Daily

AAPL found support at the 50 day today and an hourly MACD +ve divergence forming. Lets see how high the bounce goes since the 20 day has rejected a previous bounce already.

AAPL's right shoulder may not be complete yet and may need to form which would also correspond with SPX's final 5th wave completion.