APPL continuing its decent

Since mid January, Apple has transitioned into a new primary wave corrective pattern which appears to be a 5-3-5 zigzag pattern. For those familiar with Elliot waves, a zigzag typically subdivides into a 5-wave pattern on the outer legs (Waves A & C) and a 3-wave pattern on the middle leg (Wave B). If we draw a Fibonacci extension off of Wave A to forecast Wave C, we see that the 1.618 mark (the Golden Ratio) alines nicely with the 0.382 mark of the overall retracement compared to the previous rally. Typically Wave C is either equal to Wave A or is longer by the golden ratio. With Wave C descending at it’s current rate, we can expect to see a price of approximately $90.34 by July. As Wave C emerges, keep a lookout for a 5-wave pattern as validation of the trend as well as a possible reversal when the wave appears fully developed.