Bellwether AAPL, as well as the broad averages, are likely headed significantly higher as the bear market rally begun in October continues to challenge the endurance of pessimists. Accordingly, to project a new target at 176.52, I’ve relocated the point ‘A’ low of the pattern we’ve been using at a one-off low recorded in January. The stock will need to punch through p=160.21 more persuasively before we raise the likelihood of D’s attainment to near-certitude, but for now you can use a swoon to x=152.08, however unlikely, as a juicy opportunity to get long ‘mechanically’.
AAPL – Apple Computer (Last:158.93)