Overview: this week, AAPL played out perfectly according to our expectations. Let's review a few key points I published on the update of August 13th:
1) AAPL is still in the process of completing wave (X).
2) The thick black trendline that connects the highs of January 4th and March 30th, can be a potential point for wave (X) peak.
3) An open gap at 174.42.
4) Percentage of correction of wave (Y) pointed to 174.56.
5) VPOC of the correction from Jan 4th was at 173.
Also, on an ES update I published on August 16th, I had this note that actually played out: "based on the hourly chart of appl, I am still expecting a higher high on that name. This can lead to the same thing that happened on March 30th, 2022, where aapl made a higher high in that day, while spy did not."
Update: I believe that wave (X) is now complete on aapl, as shown below:
There are two important breakdowns that I am watching closely as a confirmation of this scenario:
1) As shown on the hourly count, I expect the price to break the green channel through the lower trendline, indicating the acceleration of selling pressure as wave III.
2) The breakdown of the blue bullish channel, which has held since Jun 16th.
1) AAPL is still in the process of completing wave (X).
2) The thick black trendline that connects the highs of January 4th and March 30th, can be a potential point for wave (X) peak.
3) An open gap at 174.42.
4) Percentage of correction of wave (Y) pointed to 174.56.
5) VPOC of the correction from Jan 4th was at 173.
Also, on an ES update I published on August 16th, I had this note that actually played out: "based on the hourly chart of appl, I am still expecting a higher high on that name. This can lead to the same thing that happened on March 30th, 2022, where aapl made a higher high in that day, while spy did not."
Update: I believe that wave (X) is now complete on aapl, as shown below:
1) As shown on the hourly count, I expect the price to break the green channel through the lower trendline, indicating the acceleration of selling pressure as wave III.
