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.