AAPL Update: Is CPI the Catalyst
I have been stating for a while that AAPL is coming to an end to this move up. I left the bullish count on the chart as an ALT but by this point i think it is highly unlikely. The MACD isn't presenting as a wave 3. It made a high on Feb 3rd which is exactly where structure dictates wave (A) belongs. If we were in wave 3 i would expect MACD to have made a new high at the least.
I'm waiting for us to break the 1.0 @ $159.13. This will be the first big clue we have broken the upside pattern and pressure will begin to switch to the downside even more. Not much action has happened as of late so there is not much more to add. At this point any long positions are extremely risky. CPI will be released tomorrow most likely showing an inflation increase of 0.4% and will most likely kick off our move down.
Here is a 1D graph as a reminder where we are in the count.
Bonam Fortunam,
--Tyler
I'm waiting for us to break the 1.0 @ $159.13. This will be the first big clue we have broken the upside pattern and pressure will begin to switch to the downside even more. Not much action has happened as of late so there is not much more to add. At this point any long positions are extremely risky. CPI will be released tomorrow most likely showing an inflation increase of 0.4% and will most likely kick off our move down.
Here is a 1D graph as a reminder where we are in the count.
Bonam Fortunam,
--Tyler
Note
Note
Hit the target box for b wave retrace. Should ideally head lower soon
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.