Chart of the day

AAPL downside slide continues and we should see soon a test of 157 which is the strong support and only one left for the upside. It seems we have seen the upside in the five short-term waves finish but we are possibly still at the long-term five waves as long as AAPL is above 120.

Only in the case of a break above 183, we can expect an immediate upside extension and a new high. A confirmed break below 157 would lead to a much deeper downside correction and a pullback to the 100-120 zone.

_{Look for the short trades here with the stop loss above 170. Long trades you can take in the case of a confirmed price action break above 179.}