The market continues to move as suspected
from last Tuesday's post.
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| 15 min |
Purple continues to be the primary and is looking to complete wave (v) with fib extension targets plotted on the chart to complete wave {a} of y.
Green is getting very close to invalidation.
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| 60 Min |
Yesterday I also mentioned that a triangle must be considered should we see a downdraft today with a lower high. So far that has occurred so something to keep in mind.
Typically waves c or d in triangles are complex, so if this is a triangle in play versus just a simple flat (which I prefer at the moment) we should expect the next few days to be choppy and range bound.
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| AAPL |
AAPL's H/S continues to play out. Technically one may count three waves down as complete. 1/A, 2/B and 3/C, where 3/C was nearly equal to 1/A.
However, we must give consideration to the move from 10/4 as wave i of 3/C and now a wave ii bounce is occuring to backtest the broken H/S neckline.
