AAPL update

AAPL nov 9 2012

probable completed a 5 wave sequence at the $700 level. The drop has been breath taking as is usual with momentum stocks as there was no reason to be up there in the first place. We are now about to re-enter the channel that in our estimation was wave 3 (see previous blogs). Things are pretty oversold as is, so a rebound could start any moment but preferable from the bottom of the channel. Corrections are always 3 waves or combinations thereof and here we have only one so expect a b and c to follow.