Upwards movement continued as wave count expected.

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Because the downwards wave labeled here cycle wave a subdivides so well as a five wave impulse, with an extended third wave, the correction cannot be over there.

This means that upwards movement from the low at 385.10 should subdivide as a corrective structure and may not move beyond the start of cycle wave a above 705.07.

Cycle wave b may be completing as a double zigzag. The channel drawn about it is a best fit. When this maroon channel is clearly breached by downwards movement I shall have confidence that cycle wave b is over and cycle wave c downwards is underway.

Cycle wave c would be extremely likely to make a new low beyond the end of cycle wave a at 385.10 to avoid a truncation.

Cycle wave b is incomplete. Within it intermediate wave (C) is unfolding as an impulse.

Because momentum has slightly increased from the low of minor wave 2 I expect that this is most likely minor wave 3. At 673 minor wave 3 would reach equality in length with minor wave 1.

Minor wave 3 may remain within the blue channel.

When minor wave 3 is completed then minor wave 4 should last about three to eight days. It may not move into minor wave 1 price territory below 604.41.

Intermediate wave (C) has already passed equality in length with intermediate wave (A). They may not exhibit a Fibonacci ratio to each other.

When minor wave 4 is completed I would use the ratio between minor wave 5 and either of 1 or 3 to calculate a final target for upwards movement to end.

Last analysis of AAPL on 4th March, expected more downwards movement in a three wave structure. Price has moved sideways. This is wave B of the three wave structure.

Within the bigger picture this wave count sees AAPL in a super cycle zigzag correction which is just over two thirds completed.

Within the zigzag cycle wave b ended at 571.88 with a small truncation in the final fifth wave up.

At this stage I expect a big leading expanding diagonal is unfolding for a first wave at primary degree.

Within the leading diagonal intermediate wave (2) is a 72% correction of intermediate wave (1), and intermediate wave (4) is a 86% correction of intermediate wave (3).

I would expect intermediate wave (5) to be longer than intermediate wave (3) and to reach down to 484.54 or below. At 482 minor wave C within intermediate wave (5) would reach 1.618 the length of minor wave A.

I had expected (two weeks ago) this target should be met in about three weeks. Downwards movement is very slow and so the target may be yet another few weeks away.

Within intermediate wave (5) no second wave nor B wave may move beyond the start of the first or A wave. This wave count is invalidated with movement above 551.19.

At 252 cycle wave c would reach equality in length with cycle wave a. This target is about one year away.

Within intermediate wave (5) so far minor waves A and B are most likely complete.

Within minor wave C minute wave i and now ii also are most likely complete. If minute wave ii moves higher it may not move beyond the start of wave i above 539.66.

At 505 minute wave iii would reach 1.618 the length of minute wave i.

When the small green parallel channel about minute wave ii is clearly breached with downwards movement then I would have confidence that minute wave iii has begun.

Last analysis of AAPL had a main and an alternate wave count. The main wave count was invalidated and the alternate confirmed with movement below 513.74.

Please click on the charts below to enlarge.

Within the bigger picture this wave count sees AAPL in a super cycle zigzag correction which is two thirds completed.

Within the zigzag cycle wave b has recently ended at 571.88 with a small truncation in the final fifth wave up.

At this stage I expect a big leading expanding diagonal is unfolding for a first wave at primary degree.

Within the leading diagonal intermediate wave (2) is a 72% correction of intermediate wave (1), and intermediate wave (4) is a 86% correction of intermediate wave (3).

I would expect intermediate wave (5) to be longer than intermediate wave (3) and to reach down to 484.54 or below.

This target should be met within about two to three weeks.

At 252 cycle wave c would reach equality in length with cycle wave a. This target is about one year away.

Elliott Wave chart analysis for AAPL for 27th January, 2014. Please click on the charts below to enlarge.

Main Wave Count.

Any movement at all during regular trading hours below 513.74 would immediately invalidate this wave count. At that stage the alternate below would be confirmed.

Alternate Wave Count.

Movement below 513.74 would see further downwards movement towards a target at 255.17. This target would be about one year away.

Analysis exactly one month ago expected to see an intermediate degree correction which should last about four weeks and end about 526.

Since 6th December, 2013 AAPL has exhibited typically corrective movement in a three wave structure, so far reaching down to 533.60, $7.60 beyond the target. I expect the structure is very close to completion. The target has been recalculated at 534.82.

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This weekly chart shows the entire structure of this fourth wave correction at super cycle degree: super cycle wave IV.

Cycle wave a is a completed five wave impulse so this correction must be a zigzag. It cannot be over at the low of cycle wave a at 385.10.

Within the zigzag cycle wave b may not move beyond the start of cycle wave a. This wave count is invalidated with movement above 705.07.

Cycle wave b is unfolding as a zigzag. Within it primary waves A and B are complete. At 600 primary wave C would reach 2.618 the length of primary wave A.

In this instance a corrective channel would be of no use to find where primary wave C should end. A channel drawn about the impulse of primary wave C may show where intermediate wave (5) completes this structure. Draw this channel first with a trend line from the highs of intermediate waves (1) to (3), then place a parallel copy upon the low of intermediate wave (2). I would expect intermediate wave (5) to end either mid way within this channel, or at the upper trend line.

When this channel is breached by subsequent movement then I would expect that cycle wave b is over and cycle wave c downwards has begun. Cycle wave c would be extremely likely to make a new low below the end of cycle wave a at 385.10 to avoid a truncation.

The daily chart shows the structure of primary wave C upwards.

Within primary wave C so far intermediate waves (1), (2), and (3) are complete. A very small amount of downwards movement should complete intermediate wave (4) within a few hours, and thereafter only one final upwards wave for intermediate wave (5) is required to complete this structure.

Intermediate wave (3) is just 3.05 longer than equality with intermediate wave (1). Intermediate wave (3) is almost 1.618 the duration of intermediate wave (1). Both of these waves look extended, so I would expect intermediate wave (5) to not be extended.

Intermediate wave (2) lasted 19 days, and intermediate wave (4) has so far lasted 20 days. This almost perfect proportion gives the wave count the “right look”. If intermediate wave (4) completes with one more daily candlestick downwards it would have lasted a total of a Fibonacci 21 days.

Intermediate wave (4) may not move into intermediate wave (1) price territory. This wave count is invalidated with movement below 513.74.

I would expect intermediate wave (5) to most likely end at the upper edge of the parallel trend channel.

This hourly chart shows the entire structure of intermediate wave (4) so far. Minor wave C has just passed equality with minor wave A, and if the target is reached minor waves A and C would have a very close ratio of equality.

Within minor wave C there is no Fibonacci ratio between minute waves i and iii. At 534.82 minute wave v would reach 0.618 the length of minute wave i.

Minor wave C should end about the lower end of the larger blue parallel channel, and probably mid way within the smaller pink parallel channel.

Within minor wave C minute wave iv may not move into minute wave i price territory. This wave count is invalidated in the short term with movement above 552.32.

When there is some downwards movement for minute wave v then the invalidation point would no longer apply. Subsequent movement above 552.32 would confirm that minor wave C and so probably intermediate wave (4) would be over. At that stage I would expect about two weeks of upwards movement towards 600.