Apple ~ Daily with RSI and Support REPRINTED from 2/21/2011

The reason why we occasionally think about Apple is because it is the Maybe a H&S forming here?
“vanguard” of the large corrective move that began in Mar ‘09. “Everyone”
is long Apple and the company has 100% Brand recognition--nobody is
unfamiliar with the Apple “story.”

A month ago, we pointed out the critical support at 320-322 for Apple. It held that
area nicely and produced another new high. However, it triggered very sharp Daily
RSI divergence in doing so and is now on short term support at 348. A break of
348 should cause AAPL to trade down to 326, the next level of support.

Andy’s Technical Commentary__________________________________________________________________________________________________

 Apple ~ Daily with Support

Head?

Right
Left Shoulder?
Shoulder?

$326 - $318

Over a month ago we brought up the possibility of a Head and Shoulder pattern
forming and pointed out the $326 support. Since then, APPLE has done nothing
to disappoint that concept. We continue to keep a sharp on eye on Apple as the
“vanguard” of the entire Stock Market. There is no point in getting very bearish
the equity markets UNTIL Apple takes out the key support zone of $326-318.

Andy’s Technical Commentary__________________________________________________________________________________________________

 S&P 500: Weekly (Log Scale)

We continue to believe that the 1344 concluded a Minor degree “y” wave and that an “x” wave will be
unfolding for at least the next several weeks. The exact “wave form” of the “x” wave cannot yet be
determined. Over the last few months, the 1226 level has been highlighted as important technical ( B )?
support. That level was nearly tested a few weeks ago with the SP500 bottoming at 1249 on the cash “y” “z”?
index. 1226 will ultimately be tested again, but that level is probably a “buy” on the first go around. 1344

1226

“w” “x”

“x”

(A)

Andy’s Technical Commentary__________________________________________________________________________________________________

 S&P 500: Daily (Log Scale)

“y”
1344 b
-c-
-b-
-a-

-a-
-b-

1226 -c-
a
c
“x”

As was pointed out on the previous slide, the exact wave pattern of the “x” wave is
open to debate as it’s early in the progression. Highlighted above would be my
“guess” as to the future. Though, confidence is low in this wave count.

“x”

Andy’s Technical Commentary__________________________________________________________________________________________________

 S&P 500: 60 minute with Weekly Support and Resistance
Highlighted here is a closer look at my “guess” at the wave count down from 1344--it looks like a classic
“y” zig-zag lower. The recent move higher has been very sharp and powerful which suggests it’s only the first
1344 wave up of a larger correction. In the very short term, the S&P 500 seems vulnerable to a large degree of
sideways “choppiness.”

-b-
(2) -a-

(1) (4)

[2]

(3)
-a- [4]

[1]

-b-

[3]

[5]
(5)
-c-
a

Andy’s Technical Commentary__________________________________________________________________________________________________

Silver - Monthly (Log Scale)
This much longer term picture sums up the story of Silver for now. $41.50 was the high tick and $35.75 was the high ‘monthly
close’ from the Hunt Brothers’ “trade.” Silver is currently hanging out in the middle of a HUGE zone of longer term resistance. It
would be a surprise if Silver doesn’t experience some kind of decent retracement from this important zone.

Andy’s Technical Commentary__________________________________________________________________________________________________

Gold - Weekly (Log Scale)

This is just a “quick” glance at Silver’s more revered brother, Gold. It’s been
maintaining a very nice trend line (green dashed) since early 2009 but might be
running out of steam (last close $1426/oz). A weekly close that either breaks
that green trendline or the $1,339/oz level should be considered bearish longer
term. Until then, though, stay away.

1339

Andy’s Technical Commentary__________________________________________________________________________________________________

Copper - Weekly (Log Scale)

Copper has taken some body blows recently, but the pattern lower can best be described as
“corrective.” Also, as long as Copper can continue to close above $4.00, this is a bullish picture.
Longer term copper “believers” might want to use $4.00 and $3.59 as major longer term support,
with $4.00 being much more important support.

$4.00/lb

$3.59/lb

Andy’s Technical Commentary__________________________________________________________________________________________________

Crude Oil - 120 minute continuation Head?

Left Shoulder?

This is just a quick glance at Crude oil’s intraday patterns. There is nothing bearish here. This
market appears to be congesting nearer the highs. Bears will be hoping for a “double top,” but
given the choppiness near the highs, my bet would be a “new high” near $110/bbl. Bulls should use
$103.35 area as support for “stop loss” strategies because there isn’t another good level of support
until $96.22.

Andy’s Technical Commentary__________________________________________________________________________________________________

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This report should not be interpreted as investment advice of any

kind. This report is technical commentary only. The author is Wave Symbology
NOT representing himself as a CTA or CFA or Investment/Trading
Advisor of any kind. This merely reflects the author’s "I" or "A" = Grand Supercycle
interpretation of technical analysis. The author may or may not I  or A  = Supercycle
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opposite of what may by inferred by this report. The information -I- or -A- = Primary
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