Apple Update: 02/04/2024

Feb 5

Apple is following an ideal path thus far. If you all recall I bought 2 puts when price was about $195-$196. I sold the first one when price was about $186 and the second around $181. I didn't make a ton of money off of it, but a couple hundred is better than nothing. Tomorrow morning, depending on price action, I may buy another put or two in anticipation of the next move lower that I am calling mini-wave 3 of c. I foresee that move lower to take us to the mid $170's before retracing for mini-wave 4 with another low to follow and ending the larger wave A.

This price action lines up nicely with what I forecast the S&P to do in the coming days-weeks. MACD on the micro time frames supports this type of price action with the larger timeframes seeming to begin lining up with it. Also, the structure price is carving out look clearly corrective to me. All these things point lower towards my target box I have drawn. If I place any trades, I will post here as able.

Feb 7

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This could possibly be our b wave in which it should be concluding soon

Feb 8

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Apple appears to be headed towards my next target box