Forecasting the reaction lower after wave (2) bounce
Apple Inc. yet another stock that many people and traders are looking at these days after it’s peak from January 2022. In total the drop so far is about 32%. Almost everyone is aware of them as a big chunk of people worldwide are using an Iphone or a Macbook device.
However we must never forget that the market (stock market) runs in cycles. When a larger cycle ends then a correction of that cycle always takes place. In some cases the correction is shallow and in other cases deep. Here at Elliott Wave Forecast by using our system we are able to identify when a cycle is getting mature and close to an end. Additionally we are able to correlate an instrument with others. And with out distribution and sequence system determine the areas of the market that we can expect the next reaction.
What we will look at in this article is how we have been able to forecast the reaction lower after the recent bounce in wave (2) in Apple. First of all let’s look at AAPL from 12.30.22 where we have been expecting a bounce in (2) as A – B – C.
AAPL 12.30.22 post market update update
In this case we can see how AAPL was expected to do a 3 swing bounce before it turn lower in wave (3) of a larger degree ((3)). And lastly let’s have a look on how the market reacted.
AAPL 01.05.23 Post market update