[AAPL] update [$NDX.X]

Back in November I presented a model on AAPL indicating that it could be in a large expanding wedge.  While I have admittedly waffled on it since then, I think the recent action is telling us that that wedge model is playing out.  The C wave will equal the A wave when the chart kisses the top rail per the red line.    A break back below red 1 in this model is the clear sell signal.

If Wall st darling AAPL goes down, what will remain standing?

Until AAPL reverses be careful playing the ultra shorts. Having said that, AAPL reached the top of its channel on Friday so I do expect some form of correction into red 4.  So there might be some play short next week in UVXY but unless it really picks up steam to the upside we have to suspect that that near term rallies will be reversed when AAPL makes that final thrust up to black 5.

Of course, if AAPL pulls back a little, perhaps $COMPX and the NAS100 will pull back sharply because as this article states, the rally has been all about AAPL.  The DJIA in fact has been weak and only gets bouyed when the $COMPX and $NDX.X show strength.  The last correction in this rising wedge was sideways and so perhaps the next one is an a-b-c vee downwards as shown.  There is a gap at 4305 that the chart could fill as it preps for the C wave up into red 5.  Note:4310 would be the 38.2 fib retracement of the last wave if it began selling off on Monday.