Last analysis expected price to move lower with an increase in momentum. This is not what has happened. Price moved higher past the first invalidation point on the hourly chart, but has remained below the second invalidation point and within the parallel channel on the daily chart.

The wave count is mostly the same. I am still expecting that an increase in downwards momentum with new lows is likely over the next few days for Apple.

Click on the charts below to enlarge.

When looking at stocks, always take note of two things. First, look to see how the market is behaving. Is the market strong or weak? Second, analyze the strength or weakness of any one particular stock. More often than not, you can tell the future stock movement by doing these two simple steps. ...