AAPL approaching critical resistance.
UPDATE: Will EW 62% retracement hold fora corrective a-b-c from the 380s? If so, the EW corrective c = a would take the stock price to the 260s. Were the stock market to be setting up for another recessionary decline as in 2001-02 and 2008-09 for 2014-15, an EW c = 1.382-1.618x a projects the 140s to as low as the 60s-70s (2008-09 lows).
UPDATE: AAPL continues to hold critical resistance with the 10 WMA leveling out. AAPL has run out of new, newer, newest novelties to keep the ADHD crowd occupied and entertained. Weak real wage and income growth after taxes and debt service is likely to result in a weak Holiday season, putting pressure on consumer discretionary spending.
AAPL is approaching numerous resistance areas, including Fibonacci, Ichimoku, and DeMark's TDST resistance and stop.
However, an a-b-c corrective projection allows for the 61.8% retracement area in the 570s-580s.
The Golden Cross will confirm a bottom and new bull market were the 10 and 40 WMAs to hold as support. However, during bear markets 10-40 WMA crosses coincident with bear market rally tops (and vice versa during bubble markets).
UPDATE: AAPL continues to hold critical resistance with the 10 WMA leveling out. AAPL has run out of new, newer, newest novelties to keep the ADHD crowd occupied and entertained. Weak real wage and income growth after taxes and debt service is likely to result in a weak Holiday season, putting pressure on consumer discretionary spending.
AAPL is approaching numerous resistance areas, including Fibonacci, Ichimoku, and DeMark's TDST resistance and stop.
However, an a-b-c corrective projection allows for the 61.8% retracement area in the 570s-580s.
The Golden Cross will confirm a bottom and new bull market were the 10 and 40 WMAs to hold as support. However, during bear markets 10-40 WMA crosses coincident with bear market rally tops (and vice versa during bubble markets).
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