AAPL, TM update 08/08

Time to update the big boy (AAPL) as it’s getting closer and closer to a more significant top IMHO, and a new ticker on member request: Toyota Motors (TM)

AAPL: Hitting the internal Fib-extensions to the T, with the earnings gap up most likely as (grey) minute-iii of (green) minor-3 of (red) intermediate-v of (black) major-3. Why? iii of 3 waves often hit the 100% extension and if so, then iv of 3 drops to the 61.8% extension, which price exactly did. This add confidence to my count 🙂 Price should now be completing minute-v of minor-3 with a minor-4 to follow to about $155 and then 1 more wave (minor-5; dotted green arrow) to ideally $170 for all of major-3. That would be the ideal forecasted path going forward.

AAPL daily

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TM: Nightmare to count….Took me a long time to figure this one out, and still many options left… Here are my 3 most likely candidates.

First five (blue) Primary waves up to (purple) Cycle-1 are easy, as well as the C2 low. Then things get complicated as the stock continues to make higher lows and highs in 5-waves, but the degree and pattern is uncertain. I have a very hard time seeing this as a C1, I,II, 1,2 set up on this time frame (years)… that would soon mean a blast off nobody’s seen before.

TM

The 2nd option is that 5 cycle waves completed, which is certainly possible. In that case, price could simple continue with another 4 waves up (continue making higher lows and higher highs) to complete 9 cycles or drop lower to about the lower white trendline for super cycle 2.

The third count is an Ending Diagonal Triangle count (EDT), where we have (blue) primary A, B, C and D complete. Price should now be in wave-E targeting $150ish. A break below the rising white trendline connecting the (yellow) major-2 and wave-D lows will put this count in jeopardy and places the focus back on the 5 completed cycle waves…