The Long Investor

$AAPL TOP 20

Added 2024-07-21 13:16:05 +0000 UTC

$AAPL like all Mega Caps this week, including the invincible $LLY has pulled back this week and a lot of companies have tested their 50 Day MA and support levels, some look weaker than others.
What we can say now is that we know the market and the Mega Caps, with the exception of $TSLA are deep in their Wave 5's, so we know an ABC correction is coming.

In April we watched the market when it lost its 50 Day MA and then observed a retest of the 50 Day MA from below, the price action had no problem regaining this level and so the market moved higher.

So again, this is what we will be watching for with the Mega Caps and the market again, only then can we confirm that the ABC correction is underway.

Right now $AAPL is only testing its 20 Day MA and a good bit higher than its 50 Day MA at $205, this was due to the enormous run $AAPL has been on since April.

I have added the white fib levels as though the top has come in now and I have added BUY ZONES on most charts today, to show where we would consider adding and it is around the 0.5 Fib for the correction pull back.

Right now we need to see more to confirm that the ABC correction has started