The NDQ looks very bearish according to Elliot wave theory. Major wave 3 to the downside started in August 2022. The price has completed subwave 1 of major wave 3 and currently undergoing correction subwave 2 correction in a triangle. If the resistance of the triangle holds, subwave 3 of major wave 3 could be underway and the price could likely head to sub 7000 level to complete major wave 3.
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