04/25/2012 Live Update

[MrMiyagi]

959 K last sell on IWM

Picked up some TZA at the close, just for kicks.

[SWalsh]

some trendlines... fwiw,

That would be called perfection for a wave 2 before wave 3 blows through the bottom.

[TraderGirl]

Check out this 10 year chart of Apple. Up to 12/07 Apple peaked in a 1 year cycle, 3 peaks then a final breakout to the upside for the 4th peak. It then formed a double top and corrected in 2008/2009 for a year along with the rest of the market.

Now, Apple has had 3 peaks in an 8 month cycle, breaking out into it's potential 4th peak. If the 8 month cycle continues, (last peak was 10/17/11) we could see a top in mid-June 2012. There is a Bradley date on June 12, and I expect that it could represent a significant top and decline in the market.

In 2007, Apple topped out on 12/27/2007, while the overall market began correcting a month and half earlier, but once Apple began to correct, the market sold off heavily, so the market could trade in a range and then June could represent a pretty big sell-off if this cycle persists...

Then that would leave the chance for a rebound and double top sometime in 2013. I have read from cyclists, astrologers and many others that we could see a significant bear market that lasts from about Q1 or Q2 of 2013 into 2014. So there is the potential for Apple to play out the same pattern going forward....