Tuesday, January 18, 2011

AAPL May Start Correction In The Qs

If the Qs sustain under this morning's opening low of 56.50, then a breakdown from the ending diagonal triangle for wave v will be confirmed.  At the least a retracement to the 12/31 low of 54.21 should then follow within the next 4 to 8 trading days.  The time for retracement of ending diagonals is typically 1/3 to 2/3 of the length of the triangle.  In this case wave v was 11 trading days long.

Once the retracement is complete we can evaluate whether or not it was impulsive and the probability for a continuation of the correction.

No comments: