Please seen my last Apple-post from July 7 here:
http://theelliottwavesufer.blogspot.dk/2013/07/elliott-wave-analysis-of-apple.html
We got a very deep wave ii to 391.50, but as I said we should not see a break below the start of wave i at 385.12 if the bullish Count was correct and it seems to be so. With a new five wave rally of the 391.50 low and now a break above the resistance-line from the top of wave i at 465.44 we should see the next part of the impulsive move higher. we are now entering red wave iii of wave iii higher and it should be a dynamite rally higher towards at least 544.00, but I believe it will be much strong and continue all the way towards 603, but time will tell.
Short term I would like to see a break above the base channel resistance line to confirm, that red wave iii is well under way.
Please see my post from May 25 here first: http://theelliottwavesufer.blogspot.dk/2013/05/elliott-wave-analysis-on-facebook_25.html
Well, as can be seen the count from May 25 didn't Work out as expected and I have had to change my longer term count (please see the new count above). However, the new count has not change the long term positive Outlook, which still call for much higher levels for Facebook.
As you can see above I place the end of wave 1 at 31.99 and we have seen a Deep wave 2 Down to 22.90, which was a Little below the 61.8% retracement of wave 1 and it seems wave 3 higher is well under way now. A break above the resistance line from the 31.99 high will be a very positive sign and I will be looking for an extended wave 3 higher towards at least 47.21 and possibly even higher.
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