Last post on AAPL: https://bartscharts.com/2023/08/07/aapl-august-7-2023/
Well folks, here’s a VERY important level for the market. We are all pretty aware that “as Apple goes, so goes the market.” Now, of course, you have the FANG and all that but Apple is pretty important.
As I was taught by Larry P – in a bull market, it’s always wise to BUY the ABCD.
Guess what – we have a PERFECT BUY set up for AAPL. And, on a daily timeframe.
Pay attention to this level .. it sure looks like a 3 wave (green arrows) move to new highs (perhaps a “b” wave” ) and now we have a 5 wave decline starting that “then” must be bought. Or, is this a wave 4 to finish a 5 wave sequence up? Welcome to Elliott Wave. 🙂
From a pattern perspective, we have a “near perfect” BUY PATTERN on APPL approaching. I would “expect” some support and if this market is bullish then perhaps AAPL will take off?
I can tell you that if we fail to the downside and this level gives away w/out even a hinkering a fight then the entire market will be under significant pressure.
So, this is why I like the PATTERNS so much. I turn off the news as much as I can … yes, I saw some news somewhere about China and the I-phone and blah blah a day or so ago but I posted the “top of the circle” weeks ago .. no idea. Folks, prove it to yourself, the news breaks w/ the cycle.
So, WATCH THIS LEVEL ON AAPL CLOSELY … it’s a big deal.