AAPL, AMZN, GOOGL, NFLX updates 10/6

AAPL: Still on track for that intermediate-b target. Has (unnoticeable to many it seems) not followed along the market in making new ATHs instead it’s only marginally up from last week’s lows. I still see no reason to be Bullish on AAPL until it either breaks to new ATHs from here, or drops to $142-132 first. Please note my July bottom suggesting was correct as well as my August top anticipation, and I hope to continue this winning streak.

AAPL daily

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AMZN: Corrections are always very tricky to count as they can do anything they want as investors sentiment is all over the map. I therefore have adjusted my preferred count to have a (Red) intermediate-a low in at the September price-low and intermediate-b should now be underway. Today’s candle is quite strong and suggests more upside ahead. The minute c= 1.618x a relationship targets $1004ish, which is right at the 50% retrace of all of intermediate-a. However, since intermediate-a took two months, I expect intermediate-b to last 1-2 months as well. Though it’s not necessary as price is king, but for now, it appears minor-a is underway. This count fits with where the general market is as well IMHO, and it fits with the notion that “it takes time to burn off bullishness” especially since AMZN just finished Primary III: a 15 year long bull run (major-5 alone was 3 years long). That means there’s still a lot of buyers left. But, clearly not enough to push AMZN to new highs, as it’s been under performing the general markets for 2 months now. Also this, like AAPL, appears to go unnoticed by many pundits…

AMZN DAILY

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GOOGL: Not too much to add to last week’s update, see here, other than that the current weekly chart looks even better with this week’s bullish candle: the bollinger bands are starting to expand telling us we should see a big move coming. With all TIs pointing up, and price above all weekly SMAs, as well as the MACD and MFI coming off deep lows, the odds favor this larger move to be up. On a smaller scale I’d say price is now in minute-iii of minor-5. The same price targets remain: $10450-1110ish.

googl weekly

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NFLX: this update can be short and sweet. Price is now in major-5 of Primary V. Likely in intermediate-iii of major-5 to be precise. Can go to $250+, I am personally not chasing it now. nflx weekly