The fact that APPL shares are going to plummet very shortly seems very clear in my current EW model of the chart. Anyone who owns the shares might want to consider very tight trailing stops. The shares just finished what will likely turn out to be an ending diagonal into wave 2 (or wave B, we cannot tell yet). We have first confirmation which is the break back down into the channel. Then we have the failed back test of the upper support turned resistance (STR) line (Prechter's "goodbye kiss"). Final confirmation will be a break below the lower support of the diagonal.
If nothing happens to nullify this model (such as a break back up above the STR line then we should get wave 3 or wave C down next. No matter, 3rd waves are like C waves in character. The 3rd wave will not be the shortest. Thus, the coming wave will likely be longer than the 1st wave down which would give a price target of something between $200 and $220. The shares trade for 561.30 as of this writing. You do the math. Very few think this is possible today. Time will tell.
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