7pasos

Long Term Nasdaq 100 under Elliott Wave Count

CME:ND1!   None
Today to "celebrate" the first time in 15 years of the Nasdaq above the 5000 publish this Nasdaq 100 fut . long term wave count

The chart is logarithmic.

We can observe a 5 wave decline from the last peek at 4856 followed for a more slow upward movement that
I can't precise due the lack of historic if its a new impulsive fase or part of something else.

The chances are more inclined to the impulsive due the extension of the 3dr wave (even when the C wave in zigzags could reach more than 2 to 1 proportion with the A wave, is far more common to find this kind of extendend proportions in waves 3 and there fore this have more chances to be an impulse.

In this the wave 3 is near to its finish, so in the short time (this is a weekly chart) is probable that we will face an important pullback but the odds stil in favor to new highs in the long run.

Comments

What do you think of this much more bearish count?
Reply
7pasos merry_moose
Is possible but as stated in my description the problem is that C is far beyond the normal extension for a C wave in a zigzag, there for is like watch the sun bright at sky and come out with a rain coat, could rain never is impossible but the odds are pointing to the other way. Thanks for stopping by
+1 Reply
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