Applying Fibonacci Timing Cycles To AAPL

Fibonacci timing cycles don't always turn the market, but they do often enough that it's worth watching!!

For example, in AAPL earlier this week I had the confluence of cycles due between 12/1 & 12/3.  At the same time we were trading straight up into extension targets.  This is when we knew to "ratchet up stops" on our long positions. 

The actual high was made on 12/1 just short of the 1.618 extension or target 2.  Now I'm considering this high key and pivotal as we are vulnerable to more on the downside unless that high is taken out.

Carolyn Boroden, who is renowned for her expertise in Fibonacci price and timing analysis, hosts the Fibonacci Market Analysis service at ElliottWaveTrader.