AAPL update

Apple is reporting after the close tonight. We are not in favour of trading on such events without the proper equipment (that includes every retail investor) but if you were to insist, here is a guess, a wild guess.

AAPL july 23 2013AAPL july 23 2013 b

It looks like wave 4 on the way up was at about $307 even if that is not patently clear. 61.8% of the total value off the peak of $700 equates to $270. Both are very normal levels for an initial pull back. One possibility is that we are in a triangle wave 4 or B. If it is a B than we could go a lot lower so lets assume it is a 4th wave. That would target about $100 starting from the top of e which does not yet exist so ignoring that detail $100 down now would get us to $322 but not without a month of going nowhere. We will know a little more in an hours time.