Apple has long perplexed me this year. And usually when that happens, I like to spend more time observing, and so I haven’t tried to trade it in some time.
But, let’s look at it again now. Given some of the structures I see on other names such as financials, the New York Composite, and others, it is possible to discern a triangle on Apple at this time.
And if so, it may have spent the last few months in that complex structure. I also believe it has been in a long distribution range, and it may leave that soon.
So, if it’s a triangle, it should be a “B-Wave” (in the primary [pink] degree) and that means a “C” should follow, and the equal legs measured move for that is very close to $100, and it should proceed in 5 waves, and it could look about like this:
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