Source: thewavetrading: AAPL: Follow Up of the EWP | The wave trading

Next Wednesday after the close  AAPL will release its quarterly earnings, so it is important to review the pattern from the September top.

In the monthly chart below we can see that price is approaching a critical support loctaed at the rising trend line from the January 2009 lows and the 0.382 retracement.

If this support zone does not hold the next support is located at a monthly gao at 405

In the weekly chart below I would like to highlight the following:

So far a  weekly Doji ( Potential bottoming candlestick) with the bottom of the shadow at the 100 w ma Even if by next friday it is not a doji it will most likely be a small range body (Hammer or Inverted Hammer) hence it remains a potential bottoming candlestick. If price establishes a short-term bottom next week the gap at 520.30 must be closed.

Weekly momentum (It will have to be checked at the end of this week) so far is showing a positive divergence of the RSI and an extremly oversold Stochastic

Next in the daily chart, since from the December 3 peak price has unfolded a corrective down leg with a 3-wave internal structure then maybe we could have a bullish falling wedge forming. If this is the case then price should be now involved in the wave (iv) which should establish a higher high but without closing the gap at 520.30

If the wedge plays out then it could be labelled as a wave (W) off the September top or Leading Diagonal wave (1).  Any way a large countertrend rebound should be expected.