Thus far the bounce in AAPL looks knee-jerky and without fear.
The 3 topping tails of the prior 3 months will show some resistance and be hard to overcome. It looks like AAPL will hang out in the lower $180s to possibly as high as low $200s for a few weeks to months with sideways chop until a final spike up occurs followed by a drop back toward $150 and/or below. This next drop will not have the strong bounce of the current drop.
I am still projecting a low in the $120s sometime by approx March 2019.
We may have another minor drop to mid-low $160s with this current correction (next week or two) but then it looks like back to highs with chop for now until a later date when a bigger and more sustained drop occurs.
It appears the chop period that is to come will be very tradeable both up and down with nice daily ranges. Keep an open and unbiased mind to trade this successfully letting the trades come.
For reference, the current correction didn't even get us back to the 20-month moving average.
Also note that if the dollar continues to rapidly bleed in value, we would likely just continue higher here for the foreseeable future. After all, if a gallon of gasoline is $6, $AAPL should be > $300. Sad but true.
Legal Disclaimer:
This is my opinion only.
This is for entertainment purposes only.
This is NOT financial advice nor a recommendation to buy or sell anything.
![2018-02-15 17_51_20-Main@thinkorswim [build 1922].png](https://steemitimages.com/DQmW4PrJooPaXGrZy6zNQ7KKywUffK5jLM1XrQykYPMZHS2/2018-02-15%2017_51_20-Main%40thinkorswim%20%5Bbuild%201922%5D.png)
Thus far this current bounce is on a few too many steroids. Something is not right with this. If a further move up is to be believed we need to see this bounce pull back some. Else, we continue bleeding higher without regard for reason or logic as we have done for the last 2 years.
However it is seen, this market has become a dangerous beast. It is quite sickening and disgusting as the long term impact on the economy of phony markets will be greatly negative. It is what it is, we can't fight it, we will trade it as it is and watch our dollars turn into dimes.
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