AAPL Short: Wave-3-of-(C) PA Indicates More Downside Ahead
AAPL has completed a five wave impulse and has been in a pullback since February 2015. Since wave-(A) was a three wave move followed by a pro-regressive 3-wave (B) rally, we can expect wave-(C) to be counted as five waves in a 3-3-5 flat. At this juncture, it is difficult to predict how deep price will consolidate after wave-3-of-(C) completion, but we will likely see one of three scenarios unfold (details on chart). After wave-3 completion and consolidation, the continuation through the completion of (C) would provide an excellent short opportunity.
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