Apple Crash Update

At this time my expanded top for Apple is a pattern I have to keep using until it no longer works. On the downward slope, I’m dealing with diagonal waves.  Recently support for Apple failed but it failed with a big gap still open. From here on things can go wild if we run into a short 5th wave in Minute degree. This important gap also happened close to the Fibonacci number $144. Between $130-$120 we have another huge open gap that could get closed on this run. The wave count layout might take a month or so, but then Apple should rally along with the general markets.

Smart analysts are still shaking their heads why Warren Buffet was buying AAPL stock at world record highs. Warren Buffet is now deep underwater with his Apple shares and it will be interesting to hear if he starts to sell any of his Apple holdings.

With this huge price chop, one would figure that the Gold/Apple ratio has improved. At 9.13:1 it has, but not nearly enough to get excited about. One extreme “cheap” Gold/Apple ratio is 21:1. I don’t think we will see the 21:1 ratio on this trip but I sure would like to see more than this recent 9.13:1 ratio we now have.

 

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