Look at RIMM for example , it couldnt live outside below its triangle for long at all and didnt live up to its promise of a big breakdown. Its bypassed the “belly test” and popped out above.

Online i have found little to support the idea of a triangle as a reversal pattern , or more particularily how to determin it.

Another pattern possibility here BTW is an adam and eve double bottom ( ? )

Excellent point! I’m getting so caught up in Elliott that I’m letting basic chart analysis (pattern) slip past me! Indeed it is.

Descending triangles have bearish expectations, but generally any triangle is foremost a consolidation pattern, and often precedes price expansion. I’ve learned – have the losses to show it – it’s best not to make decisions inside any triangle, but to wait for the price to break-out (ideally to retest the breakout point) for entry.

You’re right. We try to piece the price puzzle together as best we can and find low-risk, high reward entries and continue to focus on edge.

Either way, Apple – and the market – has to break one way or another out of the recent consolidation its in.

I’ll try to do so – I’m just flexing my newfound Elliott muscle and learning as much about it as I can. I have some great readers who have been helpful, both on the comment section and privately through email. I’m so amazed to find so many textbook patterns in numerous stocks/indexes/timeframes – and to think just over a year ago, I thought Elliott Wave was bunk. It was funny, many people told me I was an Elliottician at heart by the way I described the ’swing nature’ of the market. I guess they were right.

Indeed – it’s like we’ve hit a major inflection point across markets. The low just before Thanksgiving could prove to be ultra significant. I’m not sure it will be the absolute bottom, but I do think it will be at least an intermediate bottom. It feel like something is changing.

I’m hoping to see more comments – AAPL is such a popular stock with many eyes upon it. I’d love to hear people’s opinions.

I would love to fixed income covered in your updates every now and then (given its one of the biggest markets out there, i’m sure many will enjoy it)