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AAPL - given what we see on a LT 30yr chart I seriously question whether Warren Buffet has lost his judgement. Else he will be lucky if it goes much higher in his lifetime.
SEE https://www.marketwatch.com/story/diversify-almost-half-of-warren-buffetts-berkshire-hathaway-portfolio-is-comprised-of-a-single-stock-2020-07-07?siteid=bigcharts&dist=bigcharts
Log scale charts I find are not useful for MT time frames which is the relevant one now. They distort the EW count in many cases. Upload a std 30yr one.
Even on your log one you can see 5 waves (at least 3 sections up) from the 1995 low with waves 2 & 4 in 2003 & 2008. And from 2008 there are are least 3 smaller degree sections. Dont worry if their shape isnt perfect.
A std chart shows almost a vertical move up since the 2018 low with 5 waves /3 sections from it. Its extremely dangerous from a technical chart position to stay long on such patterns. AMZN similar. But perhaps Warren has it hedged ???
If the run from the March low is a countertrend wave then it may not get to expected price targets you see on a trend wave.
The other point about MTUs log AAPL chart is another interpretation of it is from 1984 is min req for 3 waves up based on its visual picture. Double basing wave 1-2 to 1998 then an extd wave 3 (which the 3 has min req for completion). If so then a corrective wave 4 is coming.
I happened to be re-sorting my library today and came across Prechters 1997 book "The Crest of the Tidal Wave" which I hadnt looked at for a long time.
6 July 2020 plus or minus 4 days is a date to watch.
ReplyDeleteAMZN - chart shows min req and good count of 5 of 5 waves up from the March low.
ReplyDeleteBe int to see what happens.
6 July was the best day
ReplyDeleteAAPL - given what we see on a LT 30yr chart I seriously question whether Warren Buffet has lost his judgement. Else he will be lucky if it goes much higher in his lifetime.
ReplyDeleteSEE
https://www.marketwatch.com/story/diversify-almost-half-of-warren-buffetts-berkshire-hathaway-portfolio-is-comprised-of-a-single-stock-2020-07-07?siteid=bigcharts&dist=bigcharts
long term apple chart posted above
DeleteLog scale charts I find are not useful for MT time frames which is the relevant one now. They distort the EW count in many cases. Upload a std 30yr one.
DeleteEven on your log one you can see 5 waves (at least 3 sections up) from the 1995 low with waves 2 & 4 in 2003 & 2008. And from 2008 there are are least 3 smaller degree sections. Dont worry if their shape isnt perfect.
A std chart shows almost a vertical move up since the 2018 low with 5 waves /3 sections from it. Its extremely dangerous from a technical chart position to stay long on such patterns. AMZN similar. But perhaps Warren has it hedged ???
If the run from the March low is a countertrend wave then it may not get to expected price targets you see on a trend wave.
The other point about MTUs log AAPL chart is another interpretation of it is from 1984 is min req for 3 waves up based on its visual picture. Double basing wave 1-2 to 1998 then an extd wave 3 (which the 3 has min req for completion). If so then a corrective wave 4 is coming.
ReplyDeleteNASDAQ - LT Chart - a line drawn from the 1980 peak to the 2000 peak to current shows something interesting.
ReplyDeleteI happened to be re-sorting my library today and came across Prechters 1997 book "The Crest of the Tidal Wave" which I hadnt looked at for a long time.
ReplyDeletePage 70 is worth reviewing MTU.
Fig 5-7.