In this post, I detailed my expectations for $AAPL to bottom soon or after a “nominal new low” and then rally to the blue b wave noted in that post. We got the nominal new low, but have since made further lows. This leads me to suspect that I missed an internal wave division (I have added them in red here). So, the thesis remains the same, but: the target for blue b is now a bit lower and, of course, now pushed out in time a bit. The bearish case remains short-term bullish here: we should get a big relief rally before another leg down.
The bullish case is that we will bottom soon and rally to new highs (I am preparing a post to defend this view, by the way, and I hope to have it up this weekend).
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