Chart of the day

Where do we stand fundamentally?

EPS for AAPL has been revised down from the peak in June 2023 from above 8 to 6.5 in June 2024. AAPL is struggling with the sales of its main products and its results could deteriorate further.

AAPL reached 193 and it is reversing down from it. This is a complex triple combo Elliott wave consolidation in what could be the long-term fifth wave coming to an end. We need to see a confirmed break below 190 to confirm this.

We are seeing an ongoing test of 193 and a confirmed break above this level would lead to an extension higher.

_{Look for the short trade entries with a stop loss above 197. I see this as an ending consolidation before a bigger correction within the channel.}