“So, the question that still is open in my mind is if we will double bottom with a 5th wave down, or if we are completing a 5-wave move off those lows,” Gilburt writes. “Under both those scenarios, it is quite reasonable to believe that we will likely see a drop back down in the stock beginning in the near term. Depending upon how high AAPL goes now, and it is still possible for it to extend to the $606-$620 region, it will likely drop back down toward at least the $553-$565 region.”
Gilburt writes, “However, it is still equally possible that we can drop back down as low as the $515/17 region once more before we begin the bigger rally.”
Read more in the full article here.
[Thanks to MacDailyNews Readers "Fred Mertz" and "Joe Architect" for the heads up.]