Readers may not understand any analysis done with the EWP, but wave counts that do not follow a strict sequence will never work. Not until I switched over to Cycle degree specifications about 5 years ago did the EWP start to make sense to me. One of these special or complex corrections of an expanded pattern can also happen with single stocks. Of course, if we are not aware, or not looking for expanded patterns, our wave counts will be all over the place on the charts.
Many think that the market we are in is just a correction, but this is very misleading at best. The smartphone era is dying and saturated. Tim Cook is a late Boomer and still has many good years to go, but the older any CEO gets the less innovation and risk-taking the company takes.
With a big Apple price drop already behind us, you would figure that the Gold/AAPL ratio would get better.
I had one expensive reading of 5.27:1 on October 4th and our recent reading is 7.50:1. This is a bit better but nothing to scream out across the rooftops for.
Cheap would get us closer to a 21:1 ratio so we have a long way to go before that ever happens. I will have to adjust my smaller degree wave counts and even if my expanded top is not “real” the big correction might end up looking like a zigzag!