Daily Archives: June 12, 2017

Apple, Bull Market Crash Update

 

The Apple chart above was my last update from May 21, 2017 when I figured another major top could be coming soon.

I can’t always remember the exact wave count from a month ago, so I have to look back to see where the wave count last finished at.   In this case the top wave 5 in Intermediate degree is still holding.

What followed was a very dramatic move down. This move down can also work as an “ABC” decline leading to a potential wave one of a set of diagonal waves.  We are coming off one of the biggest world tech bubbles, the likes of what happen in 2000 when the  “Dot Com Era”  came to an abrupt end.  Of course, Apple was walking to a different drummer as well, and if we were paying attention at that time, Apple was just in a big correction.  I can’t always give readers a complete update on Apple as I try and stay away from analyzing single stocks.

I do it because I’m a big fan of Apple products and I own three or more of their products which I use  everyday. 

We also have a big gap still open below present prices, which could work as a strong temporary support area. It’s not rocket science that when a stock price dips, all the bad news becomes front page news.  The fear of not selling enough iPhones is all it takes, sending Apple investors into a panic. In reality, it’s just a bunch of algorithms gone rouge.  :roll: Not too many traders that are nimble with their mouse clicks, can keep up to a fast downward move like Apple made. 

Computer trading works in milliseconds, and can also produce many of the gaps we see.  Last month the Gold/Apple ratio was hitting extreme readings of just under 8:1 which broke every record that I have calculated since 2016. 

Not until the Gold/Apple ratio starts to improve by the ratio getting wider ratio will it be logical to even think about buying Apple shares. I can’t give specific buy recommendations, but I’m sure readers will see me become very bullish again. 

Mind you it may take several years before that can happen. In the meantime, all we can do is track Apple’s progress,  trying to  confirm any bearish decline. 

T-Bonds Intraday Bull Market Review

T-Bonds have been on a run that sure looks like it can fit into an impulse wave, but in the last 4 days or so T-Bonds have started to correct.  This June contract is also in its dying days as the next chart will have to be the September contract month. 

I will keep my commentary on the short side, but only posted it as impulse waves can be very exciting to work on and they sure give us an experience, in counting out 5 waves sequences.   What we don’t know for sure, is if we will get a new record high, sometime in our future.  I have already spent well over a decade trying to decipher the 35 year bull market and the one conclusion I have come to, is that we are wasting our time if we don’t understand diagonal wave counting.

This chart is only a very small portion of what can be an impulse. Yes the T-Bonds have recently spiked again, but we may not be finished our present correction just yet.