With yesterdays close below the blue trend-line, we might have gotten the first serious warning, that an important top is in place. However we need a break below support at 354 to confirm the top and a continuation towards next support at 310.
Long term picture showing, that we could have seen a major top at 422.86
Zooming in on the topping action we can see a five wave decline from 422.86 down to 391.30, followed by a three wave rally to 409.25, just below the 61.8% retracement of wave a or i down.
Yesterday I said, that we are in the final stages of the rally, that began in 1997. The big question is whether a top is in place or we could see a move higher towards 450. Today we saw a Shooting Star chandle, which could be a warning of a top, but we need confirmation, which ideally comes in form of a break below 403 and more importantly a break below 353. 
Apple - I doesn't do much in single stocks, but I keep an eye on them and when Apple today reached new all time highs, I do think it's interesting to see, that my count suggest we are in the final part of the rally since 1997. Can we reach 450? Maybe, but I will focus on support at 353 a break below here will be the first serious warning that the top is in place.
Gold - In my daily analysis of gold, I have concluded that we are in a wave iv correction, but looking at the bigger picture we can see, that we are in the later part of the rally since 1999.
Copper - Has now clearly broken down from the rising channel, calling for a decline towards the 279 - 285 area. But more importantly the breakdown in Copper is telling us, that the global economy is weakening.
Corn - Is also looking weak after the break below 700. We could very well be looking at a Shoulder/Head/Shoulder top. This top-formation will be activated if the neckline at 620 is broken. 
The Monthly chart is showing us a possible ended five wave rally since the low at 3.19 in 1997 to the high at 364.90 in early 2011. A rally of 361.71 points, that took 164 months (look how theres numbers gets very close to the Fibo-numbers 3.618 and 1.618) One should also note, that the final rally from the bottom of wave 4 from the channel support-line went to the channel mid-line, where it did stall. Finally on the long time chart it worth to notice, that wave 3 extended and was over 423.6 time the length of wave 1, while wave 5 became almost exactly 1.618 times longer than wave 3. All add confidence to a possible top or to a ongoing topping process. 
Looking at wave 5 going from a low at 78.20 to the high of 364.90. It too was a nice looking five wave rally. The break below the wave 2-4 channel support could be a warning, that the entire rally from 3.19 is over, but we need some more evidence, therefore zooming in even closer at the last part of the rally brings to the last chart below. 
As can be seen we have massive negative divergence on the MACD indicator, we have broken below the wave 2-4 supportline and we have a possible Shoulder/Head/Shoulder top. What we need is a break below support at 326, which will trigger the S/H/S top, but will at the samme time be the first confirmation that the above count is correct.
It looks like a nice five wave up move. Apple has been one of the leaders, but it seems that we have come to the end.
The rally in Apple (AAPL) since January 2009 is a nice five wave rally too ending wave 5 up since 1998. If this count is the right one then we should soon see a major bear market take over. The target would be 108 and maybe even the 80-86 area.
On April 7'th I had a post under the name " Could Apple be forwarning a possible top?" (http://theelliottwavesufer.blogspot.com/2010/04/apple-could-apple-be-forwarning.html)
