$AAPL Count and Target

I don’t want to be this dark, but this doesn’t look so great to me. I’ve counted all of this out internally now, and there are excellent fibs to justify this (though I’ve taken them off so that the chart isn’t so cluttered).

And if it’s right, it’s compatible with a huge drop, especially if that’s a “2,” and not a “B” we’re at now. If it’s a “2,” it can go to $122 (or lower), if a “B,” perhaps $136 is more appropriate.

If we do turn lower now and in a big way, this may be a dreaded “running flat.” I’ve discussed them before, and when they do actually show up, they can be terrible. The market has conducted a “correction,” while staying in the “direction” of the trend (in this case down). It can mean the market’s in a real hurry. This stock is sharply diverging from the S&P here (which is way above its 9/2 high—where the orange A is on this chart).

This changes if we get up out of these parallel rails, but if we don’t, this can spell serious trouble for a market leader.

AAPL


Note: When articles are first published, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced (or to join my Discord chatroom), please consider becoming a patron. Note that there is a 7-day free trial period. More information may be found on my About page and on my Patreon page.


Leave a Reply

Your email address will not be published. Required fields are marked *