Monday, August 5, 2013

Elliott wave analysis of Apple - Short and medium term count

 DAILY
 
HOURLY


Apple.

With the break above the Base channel resistance line and the break above the Inverted Shoulder/Head/Shoulder bottom we should see a move higher towards at least 542, which is the S/H/S target. Short term I'm looking for a continuation higher towards 472.87 for red wave iii, but if this resistance is clearly broken the next resistance should come in at 487.08. However, I would not be surprised to see resistance at 472.87 hold for some consolidation before the next powerful rally higher towards 542.

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