AAPL, PCLN updates 12/29

AAPL: There are a few possibilities here. The first is the bullish one with a subdividing minor-5 underway targeting around 190. That’s where minor-5 = 1 at the 176.40% extension and where the minute 176.40-200.00% extensions coincide. Price needs to break above the minute-i high to confirm this count. Otherwise the following two are operable. Cont’d below.

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The first bearish, and least bearish, is that major-3 topped. Major-4 is now underway around $145, which is around where intermediate-iv bottomed: the grey S/R resistance zone. Which coincides with around the 38.2% retrace of all of major-3. A drop below the minor-4 at $165ish will confirm this count.

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The most bearish perspective is that Cycle-1 topped. Price will retrace much deeper than $145 and could in this case go as low as $40s. For now, given where the overall markets are big picture wise (wrapping up major-3) I find this the least likely possibility. But it must be noted.

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PCLN: Is most likely still in major-4. So far the advance off the ~$1625 low looks overlapping and more off a b-wave. A break below $1700 will solidify this view and target into the $1500s, which is the late-2016 price zone: good support. Price will need to break above (red) intermediate-b at $1963 to change the perspective to a Bullish major-5 is underway.

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