The Nasdaq and SPX had big moves on the strength of the move in AAPL, but the Dow and screening measures were less enthusiastic. What happens next depends on whether the move continues and broadens out on Thursday. Short term cycles are in up phases. 13 week and 6 month cycle up phases could kick in if there’s enough strength. Otherwise the topping action of the 10-12 month cycle could be dominant, which would lead to a rollover sooner rather than later. That makes the upcoming session in NY pivotal. A strong follow through would suggest that the 10-12 month cycle projection of 1450 is still doable.
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