This update covers 13 stocks in alphabetical order and each stock-chart has the ticker symbol above with a brief description. For wave-labeling, please click here. Enjoy. Click each chart to enlarge.
AAPL: weekly chart. The weekly chart shows how AAPL found support at long term support; 50% retrace of all of intermediate iii, and so far closed well above these support levels. IMHO intermediate iv is in.
AMBA: major 4 is likely in. Price found support at prior resistance levels (~$70). Price closed above support line!
BABA: is a bottom in? Price bottome at around the (red) 138.2% intermediate a extension, but not at the confluence of the (yellow) major c=a is 161.8%x intermediate a
CMCSA: Major a is in, now in major b. Clear 5 waves down IMHO, major b should target low $60s, which is a retest of the red trendline.
CMG: can the bulls turn it into a i,ii count for Major 5? Price found support at prior S/R, but is now also right at long term resistance. Needs to break above to go for new ATHs.
DAL: did primary IV form a flat? The advance to the yellow major b high was clearly 3 waves up. At Monday’s low, price retraced 38.2% to the T of all of Primary III. Typical for a 4th wave of the same degree. It can also still be intermediate a of major c of IV, but I find that less likely.
GILD: like DAL, also GILD failed to make clear 5 waves up off the December 2014 low, and as such primary IV, imho, formed an irregular flat, with major b>a and major c ended at a. Price should now be in major 1 of Primary V.
GOOG: Did primary V top (cycle 1) or was it only intermediate i of major 3. It did reach the V=I, from IV and bull-flag formation extension, suggesting it may well be a long term top. Break above will mean subdividing major 3. The market will decide…
GPRO: somewhat uncertain about current path. Either recent high was major b, and now in major c of Primary II/B, or recent price progress was an irregular expanded flat for intermediate ii of Major 1. Break below monday’s low puts us in the former camp, with a 200% extension targeting the current “B/II?” price level to form a flat. Break above the b, b? high means the latter count is the right one.
JCP: did intermediate ii just form a weird irregular flat? Price back above descending trendline. Support ($7.25) held! Needs to stay above trendline for more upside.
KR: major b of Primary A of Cycle 1 underway. alternatively Primary IV did just bottom forming also here an irregular expanded flat. Just look at that candle on Monday… C R A Z Y Up 35% in 3 days!!!
NFLX: major 4 likely bottomed on Monday, Another CRAZY candle on Monday… up from $85 to $117 in 4 days… that’s a 37% gain…
SBUX: well, you’ve seen this pattern before and the CRAZY candle that formed on Monday. Major 4 likely bottomed then. Price back above important trendlne