$AAPL TOP 20
Added 2023-05-21 19:05:08 +0000 UTCI uploaded this late last week with how I see the chart playing out, again this chart has a corrective wave on it and I certainly can not rule out that the whole structure since the start of the year is an ABC count as part of a large Wave B.
On the positive side, I am getting more and more impressed with their move into the banking domain and their savings yield is truly exceptional and will be warmly welcomed in Europe too when it arrives.
Like the $MSFT chart, we are just at an important Fib level, 1, and where potentially Wave B could top out.
We know that a lot of large/mega cap stocks that have been holding up the market and are looking extended now, the weeks continue to carry on and they haven't pulled back yet. $AAPL and $MSFT are not nearly at the $NVDA stage of being over extended, in a bubble state but we do not want it to get to that stage either. Wave 3 on my chart here is at $196, almost $21 higher then where it is now, so it still has a bit to run, likely at this point, there will be severe pressure on $AAPL to pull back.
A lot will come down to the debt ceiling negotiations this week, we know if a deal can not be reached and it can not be extended, the market will be impacted by this....the longer it takes, the more pressure it will have on the market.
