Apple is looking like it needs a larger scale correction. Reasons for justification:
1. Completion of a 5 wave uptrend without a significant 3 wave correction.
2. Massive bearish divergence on both the MACD and RSI
3. Apple's current high sits at a 600% extension from wave 1
4. Double top pattern
Watch for a break of the purple support line.
Breaks of MACD and RSI divergence lines will invalidate this idea.
1. Completion of a 5 wave uptrend without a significant 3 wave correction.
2. Massive bearish divergence on both the MACD and RSI
3. Apple's current high sits at a 600% extension from wave 1
4. Double top pattern
Watch for a break of the purple support line.
Breaks of MACD and RSI divergence lines will invalidate this idea.
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