$AAPL TOP 20

I uploaded this chart on Weds night and very little has changed since then, as the weeks price action peaked on Weds. For now, the price action has broken above the ascending triangle and holding there right now, it is now in an ascending wedge, so before the ascending triangle was bullish and now its into a bearish formation, while it stays in this wedge. This is not a surprise, if we look at the RSI, we can see that it peaked again on the 2nd of Feb, which is the same as the $SPY chart, and since then, the RSI has been trending downward, as well as the MACD. 

What we do know is that $AAPL, $MSFT and $QQQ are still holding up quite well, considering all the volatility, $NVDA and $AMD are similar. What we have also identified is that they are all in ascending wedges now, which is a bearish formation.....so do they all breakout together higher or break down together?...I can sit here and say what I think will happen for definite but that is doing you all a disservice because it is not that clear and although the majority are probably bearish now, opinion is still split too.

We can only go on our own assessment and from considering all factors, the macro conditions, its chart and liquidity tightening, it is unlikely that $AAPL will not experience some pull back.

So What Now?

From the chart, there is still room to move up the wedge and Wave B is just towards the end of the wedge so I was still expecting this to move a little more too. If this tops out at the Wave B point and starts pulling back, we will clearly see that Wave 1 and Wave 2 were in fact ABC counts, so what is next is Wave C and Wave C will likely bring us to new lows as shown and into our buy zone. So I believe a pull back is the most likely option, if it does not reject at Wave B, it is in the impulsive Wave and bulls have taken over.