OVERALL MARKET: October 13th, 2023 Major Market Bottom Call and Explanation. Plus, what happens next.
Amazon (AMZN)
Date: October 18th, 2022
Anticipated moves for Amazon are more or less in line with expectations from the overall market. More so on the short-term basis as it can be interpreted that the bottom is already in as of June for Amazon or it can be interpreted the bottom will arrive shortly.
Our mathematical and timing work for Amazon (AMZN) suggests the following.
- One interpretation suggests Amazon bottomed on June 14th at around $101. The other interpretation suggests the stock will bottom this December 29th (+/- 5 trading days) at $82 (+/- $2)
- Once the bottom is in Amazon will run up to approximately $230 by the end of 2023.
Apple Inc (AAPL)
Date: October 11th, 2022
Our mathematical and timing work for Apple (AAPL) suggests the following…..
- AAPL should bottom around October 31st at $124 (+/- $2)
- Once the bottom is put in place, Apple stock should rally into April of 2023. Our calculations suggest Apple should reach $208 (+/- $2) by the end of April. I say should not in terms of PRICE, but in terms of TIME. If AAPL doesn’t reach this PRICE target by April, the TIME variable will extend and the stock will need more time to hit the same PRICE target.
Associated charts below represent this analysis. Please note, the analysis above is in line with what we anticipate from the overall stock market.
