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Friday, April 5, 2013

Elliott wave analysis of Apple - Getting close to a bottom

Apple

We are about to head Down in the last part of wave c of the first zig-zag combination. The ideal target for this zig-zag is at 391.03, from where I expect some kind of X-wave to take place. X-wave tend to be rather Sharp, but they can take on what ever of the corrective shapes they want. So we will just have to trail along and see what happens. Longer term I expect this correction to be a complex wave 4 and that means, that the X-wave I'm looking for could be wave B in a triangle or a B wave in a flat correction.

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