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Monday, October 19, 2009

Apple


Apple's rocket rise from the March low I have labeled as a 5th wave advance. This would fulfill a long-standing EW pattern dating back to the 1990's. The move up is clearly an impulse in my estimation (whereas Google's looks best as a triple zigzag)

The monthly chart shows how Apple's RSI is diverging badly.

Looking at Amzn's chart, it too has a decent chance of taking out it's 2007 top of $101.

I mean, when your at the top such as Apple is, is there anyplace else to go...but down? Sell the news within a week or less?

And the big names of tech will have reported. Goog, Apple, Amzn (on Wednesday) (and Rim from last qtr).

If they sell off what will drive the qqqq's higher? Qualcomm?

Of course, I assume Apple will indeed make a new high....well it did in A/H's I think...
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