With everyone at JP Markets making a killing on the Nasdaq lately, I thought I'd share my analysis perspective on the larger time frame. According to my wave analysis on the weekly chart, I am expecting to see a rally to around the 8100 mark before we see a significant pullback to around the 6300 level.
Remember this is my view and is not guaranteed so if you decide to use this analysis, you do so at your own personal discretion.
I think 8,050-8100 is a top. But just out of curiosity, why do you think 6,300 is the pull back level? I always have trouble with the pull back part of the analysis.
Linton_White
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@j412i, the market moves in waves. You get an impulse, a correction and then another impulse. The second impulse is usually the same length as the first and sometimes extended. So the arrow on my chart are the same length.