AAPL, EA, JD, WYNN updates 01/29

AAPL: Caution is advised with this stock. When it fails to follow the standard impulse pattern set up as outlined little over a week ago (see here) then something is a miss. This likely means the 5th wave failed to fully develop. There are 3 options: The most bullish option is that the wave labeling needs to be shifted forward with minor-4 now underway, but I find this for now less likely (20% odds). The 2nd option is that major-3 topped (shown in daily chart). This is 50% odds. The 3rd option is that all of primary-V topped (shown in weekly chart). This is 30% odds. Thus, the odds favor more downside. Not the negative divergence on the daily MACD, and Money Flow, and the negative divergence on the weekly MACD, RSI5, and so far now also a weekly A.I. sell signal.  AAPL is to report earnings on February 1, after market close. And honestly being long here may be not the best of options. Reducing position size would be considered prudent. If price breaks below the early december low, odds increase furter to the Bearish side of things. Forewarned is forearmed. And if I am wrong and price does rocket higher once can simple catch that low risk next bus. That’s how trading is done. I will than shift the count to minor-5 of intermediate-v underway.

AAPL daily

aapl weekly


EA: Counts best as being in orange micro wave-v of blue minor-3 to about $119.50-121.50. It’s following the Fib-extensions and retraces rather well. Blue-4 should then move back to $115 area before wave-5 takes price to $123-128 to complete intermediate-v of major-3. See big picture count here. Note because intermediate-iv dropped lower than originally expected, the intermediate-v of major-3 price target is adjusted lower as well.



JD: Big picture first. Back in late-November 2017, I was equally split between a bearish and bullish count (see here) but concluded “… for now the market needs to sort this thing out until there’s more clarity: break below $35.79: primary II. Break above $42.77 and intermediate-iii is underway. Simple. Longs can thus set there stops accordingly.”. Well we got that break higher and here we are: intermediate-iii of major-3 underway. That break higher was THE cue to go long and already you’d be sitting on 16% profits 🙂 And the good thing is: it ain’t done yet, as we don’t have an intermediate-iv yet. Cont’d below.

JD monthly

The daily chart shows more clearly how price is in major-5, but since the early-December 2017 low was almost equal to the late-October low (off by only 2c) it can’t be known for certain which of the two lows is the real major-4. A 99.9999% retrace for a 2nd wave is pretty much unheard off BUT technically still valid. So we’ll have to wait and see for the next pullback to materialize. For now, I am looking for $60-$70 for all of BLUE PRIMARY-I.

JD daily


WYNN: The past two days’ price action requires an update on this ticker: anticipate, monitor, adjust! And shows I don’t have all the foresight either. Nobody has. But, when things change we change along to get back on track. That’s our power. Many don’t have this. This is also why you ALWAYS have stops in place: they protect your profits because we are wrong till proven right. On the daily chart I can now count 5 waves up as having completed off the November-2016 price low. The weekly chart then shows that major-4 is underway. I am aware the wave-coloring is the same on both charts, but the degrees are different. Just use the weekly-chart for the big picture. Although major-4 should ideally end at the 38.2% retrace, given the past 2 days and because major-2 was long and shallow we should expect major-4 to be deeper than that. Support is now at $145 +/- 2 and at $130 +/-2.

wynn daily

WYNN weekly