The time cycle of the 2007-2008 correction of Apple Computer (AAPL) completed as exceptional earnings were reported. I know they were exceptional because the stock gapped up and closed over 4% up on more than double the average volume. It was either the earnings or the fact that price needed to be somewhere as time squared out. A move back to the old high to complete the time cycles is very bullish in the long term. This does not mean that AAPL is a buy this week. Maybe it is or maybe price needs a rest before moving higher. The only way to know is to trade in the direction that price moves.
Interestingly, price also hit the 1×1 angle of the less significant range from 2008-2009.
The long term range of the initial bull market corrected and price is now back to the high. There is no specific time cycle here but the fact that price is back to the high in about 3/8 of the time is bullish in the long term.
Thanks Andy