Apple - Look for a break below support at 110.21 soon



Apple look for a break below support at 110.21 soon 

My long term view for Apple is, that wave 3 ended at 100.76 in mid-September 2012 and all price-action since then has been part of a wave (4) expanded flat correction. If this count is correct, we have seen wave B end at 119.75 (just above the ideal target at 118.86) and wave C is now developing for a decline to below the ending point of wave A at 55.03. The ideal target for wave C and wave (4) should be found at 45.40 before an extended rally in wave (5) to above 119.75. 

The first decline from the 119.75 high has unfolded as an leading diagonal and wave the correction in wave ii corrected a perfect 61.8% of wave i and wave iii is currently unfolding. The ideal target for wave iii comes in at 79.64 and could even decline lower to 66.27.

Short term only a break above resistance at 114.77 will prove this count wrong and indicate, that an expanded flat is unfolding as wave ii and wave c of ii should terminate near 116.25. Only an unexpected break above 119.75 will force me to evaluate my preferred count. 


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