AAPL Weekly Harmonic Elliott Wave and Hurst's Cyclic Analysis
Overview: let's review the key points of the previous update (September 16th):
Update:
Hit the play button on the previous update to see that we are perfectly on track of our expectations (just a 2-day delay for the 40D cycle trough).
We completed the 40D cycle on September 28th and the low was 167.62.
Analysis of the Structure:
We are in wave x of 2 and I think it is developing as a double zigzag. Right now, we are in wave A of y of x. We are back in the time when I will mention on my updates that "this is a correction inside correction, ugly price action (full of traps)."
Based on the fib retracement of wave w of 2, I have 180.29 as the peak for wave x of 2. If we see more price action of y of x, we may need to modify this target.
Analysis of the Cycles:
On Thursday September 28th we completed the first 40D cycle in the current 40W cycle and now we are in the second 40D cycle of the first 80D cycle of this 40W cycle.
We will have a cross of the 5D and 10D FLDs on Monday and this can generate a target of 175.6 (associated with the peak of wave A of y of x).
We also got a cross of the 40W FLD this week that generated a target of 152 for wave 2 bottom. Don't forget that the bearishness will cause an overshoot of this target.
- A major change to my AAPL count.
- The bullish move of Jan-July 2023 labeled as wave 1.
- The current phase is a wave 2.
- Based on fib retracement, 141.65 as my target for wave 2 bottom.
- Wave 2 as a double zigzag.
- Right now, we are in wave C of V of (c) of w of 2.
- The price high of September 5th was the peak of the current 40W cycle, so we have around 35 weeks of bearishness ahead of us.
- 40D FLD price target is 168, expected on 22nd or 25th of September.
- 80D cycle trough 29th of October 2023, 20W cycle trough 1-15th of January 2024 and 40W cycle trough April of 2024.
Update:
Hit the play button on the previous update to see that we are perfectly on track of our expectations (just a 2-day delay for the 40D cycle trough).
We completed the 40D cycle on September 28th and the low was 167.62.
Analysis of the Structure:
We are in wave x of 2 and I think it is developing as a double zigzag. Right now, we are in wave A of y of x. We are back in the time when I will mention on my updates that "this is a correction inside correction, ugly price action (full of traps)."
Based on the fib retracement of wave w of 2, I have 180.29 as the peak for wave x of 2. If we see more price action of y of x, we may need to modify this target.
Analysis of the Cycles:
On Thursday September 28th we completed the first 40D cycle in the current 40W cycle and now we are in the second 40D cycle of the first 80D cycle of this 40W cycle.
We will have a cross of the 5D and 10D FLDs on Monday and this can generate a target of 175.6 (associated with the peak of wave A of y of x).
We also got a cross of the 40W FLD this week that generated a target of 152 for wave 2 bottom. Don't forget that the bearishness will cause an overshoot of this target.
