NASX looking weak

NASDAQ:IXIC   Nasdaq Composite Index
NASX broke the previous higher low on 4/15 after completing a subdivided 5 wave decline of wave 1, indicating a trend reversal. We appear to be making a subdivided a,b,c pattern which will complete wave 2. Note that we are in the 78.6% and 61.8% internal retracement of Wave 1 as well as the 100% fib extension of waves a & b of Wave 2. If I am correct, a downside continuation is very likely after the stochastic fast line crosses over the stochastic slow line to the down side. Looking at a minimum target of 3849 if the wave b subdivision is taken out at 4014.17.
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