As predicted, the market remains in a precarious position on the short coattails of AAPL's 9% surge, while AAPL's prospective crash appears only the more likely on the heals of such a volatile, one-day move in the stock's price.
Whether the Elliott wave count above holds up is a prospect made more likely by underlying technical conditions whose deterioration across the board reveals just how precarious is the market's current position. Anticipating a hard turn south, you really couldn't ask for a more favorable backdrop. Thus, today's lift and any follow-through appears but a "c" wave higher, unfolding in formation of a 2nd wave of five waves down. A 3rd wave down from April 1st peak could begin to unfold before the end of the week.
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© The Risk Averse Alert — Advocating a patient, disciplined approach to stock market investing. Overriding objective is limiting financial risk. Minimizing investment capital loss is a priority.
Analysis centers on the stock market's path of least resistance. Long-term, this drives a simple strategy for safely investing a 401(k) for maximum profit. Intermediate-term, investing with stock index tracking-ETFs (both their long and short varieties) is advanced. Short-term, stock index options occasionally offer extraordinary profit opportunities when the stock market is moving along its projected path.
Nothing is set in stone. Nor is the stock market's path of least resistance always known. More often than not, there are no stock index option positions recommended.
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