Short term Elliottwave structure suggests wave (W) dips to $89.47 ended cycle from 4/15 peak. From there, Apple is in wave (X) bounce to correct the decline from 4/15 peak. Internal structure of wave (X) bounce is unfolding as a double three where wave W ended at $95.21, and wave X ended at $93.54. While wave x dips stay above $93.54, Apple has scope to make another push higher towards $101.36 – $102.38 area to complete wave (X) bounce before the decline resumes. We don’t like buying the proposed push higher in wave (X). As far as 4/15 pivot at 112.39 remains intact in the bounce, we expect Apple to find sellers from $101.36 – $102.38 area and turn lower either to new lows or at least pullback in 3 waves.
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