chessnut
Short

NAS100 EW primary wave formed. Bullish opportunity.

FX:NAS100   NASDAQ 100 Index
148 0 0
My previous publication was about the bullish triangle that the NAS100             has just broken out of. A triangle thrust is impulsive, and this is a fine primary wave example of an impulse. This primary wave will be followed by a retrace 2 as we see now, then by a great big wave 3, which could take us quite far to the upside, perhaps 5000. Triangles are terminal moves, so be warned that I am not a long term bull here, although I take this neat scalp to the upside gratefully. Wave 1 could retrace to the 0.618 fib here, but I expect a flat correction above 50% as this is a sharp triangle thrust.
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