APPLE ticker symbol: AAPL short-term Elliott wave view suggests that the rally to $229.67 high ended intermediate wave 3 higher. The internals of that rally higher unfolded as impulse structure with the sub-division of 5 waves structure in it’s each leg higher. Down from $229.67 high, the instrument did a 7 swing pullback & completed the intermediate wave (4) pullback at $216.48 low.
The internals of that pullback unfolded as double three structure with the sub-division of 3 wave corrective sequence in lesser degree cycles. The initial decline to $$221.30 low ended Minor wave W as a Zigzag structure. Where Minute wave ((a)) ended at $225.10. Minute wave ((b)) ended at $227.70 high. Minute wave ((c)) of W ended at $221.30 low. Up from there, the bounce to $225.37 high ended Minor wave X recovery in 3 swings.
Then a move lower towards$219.52 low ended Minute wave ((a)) of Y. Minute wave ((b)) of Y ended at $222.49. Minute wave ((y)) of Y ended at $216.48 low. Also completed the Minor wave Y of (4) pullback, after reaching the 100%-123.6% Fibonacci extension area of Minor wave W-X at $217.03-$215.06 area. Near-term, while dips remain above $216.48 low AAPL is expected to resume the upside. However a break above $229.67 high remains to be seen for final confirmation & to avoid double correction lower in intermediate wave (4) pullback. We don’t like selling it.
AAPL 1 Hour Elliott Wave Chart
