The previous post played out perfect down to the tick. APPL gave us a nice bounce and now a correction. Watch for the this breakout for a long to around $240
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Consider taking profits on long here. APPL might do a bigger corrective structure and come back to down for retest of the 213-215$ region if this whole move was X wave.
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looking a lot like consolidation right now, might make another small leg up. Confirmation if this is the move thats going to 240 will be when we break the the top. I'm more inclined to us going back down for retest of 214 region after this rather rallying from here. In any case I would keep stop buy orders above the top just incase.
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As suspected this was not the impulse. The larger corrective structure looks to be either an expanding or running flat.
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APPL played out like expected. Not taking long trades here since SPX looks real bearish atm and also taking longs after such a sharp move is not a good idea. Waiting for impulse and correction to take long setups. I believe these 2 corrections will be in the same degree (unless this a larger degree correction) if thats the case should see another leg up before a dump. Waiting to see how this plays out. Expanded flat is also possibility since B wave broke the top.
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If this an expanded flat would be looking for a larger corrective structure here to take on short trades for another leg down