The Mars/Saturn conjunction on 27 SEP coincided with an expansion of volatility and a selloff.
AAPL is approaching the median of a larger trend channel (blue dotted line). The current wave (green count) can be interpreted as wave iii or wave c (potentially followed by wave iv retrace to the .382 fib blue box, or another abc with further upside). AAPL likely remains difficult to trade and a theta-decay strategy could yield better results if price becomes choppy.
If AAPL continues to decline we may interpret it as green wave v and look for the next levels:
- Gann level 138
- Gann level 132 & bottom of trend channel & wave (a)=(c) equality
- 124, 1.618 Fib extension of wave (a)
Correlations: DXY continues its exceptional strength as yield spiked, but Gold and Bitcoin has started to rise again, which could be an early indicator that USD may begin to slow. EURUSD is at support level as well. A declining USD would help the yield-sensitive tech sector to retrace the last selloff.
AAPL is approaching the median of a larger trend channel (blue dotted line). The current wave (green count) can be interpreted as wave iii or wave c (potentially followed by wave iv retrace to the .382 fib blue box, or another abc with further upside). AAPL likely remains difficult to trade and a theta-decay strategy could yield better results if price becomes choppy.
If AAPL continues to decline we may interpret it as green wave v and look for the next levels:
- Gann level 138
- Gann level 132 & bottom of trend channel & wave (a)=(c) equality
- 124, 1.618 Fib extension of wave (a)
Correlations: DXY continues its exceptional strength as yield spiked, but Gold and Bitcoin has started to rise again, which could be an early indicator that USD may begin to slow. EURUSD is at support level as well. A declining USD would help the yield-sensitive tech sector to retrace the last selloff.