Apple: Wave [1] Intact

Despite a significant setback, Apple managed to gather new momentum on the upside and continue its work on the green wave [1]. The impulse structure remains intact, and we expect a new high imminently before the next countermovement with wave [2] follows. The stock should not breach the support at $168 to enable wave [3] to initiate the next upward phase. If the price does fall below the $168 mark, our 34% likely alternative scenario will allow for a new low of wave alt.(IV) in blue, though the rise would also continue after this lower low.