Needed to do some recalculations, Scale 30': Overlaying the NASDAQ with either the DJI or the SPX you will see, that both made their highs ("Minor"-wave 3) on 2017-03-01, but the NDX didn't! If you look at the chart for NASDAQ, you will find, the index made even 2 more tops, obviously as a sign of strenght! The first 2017-03-21 (with an exhaustion - gap (!) and the second 2017-04-05!
In my earlier posts, I assumed for NASDAQ, to be in perfect "rhythm" with the others, being in their individual wxy-patterns. But this assumption is probably wrong for the NDX, because of its shown strenght! If the first peak of 2017-03-21 would have been "Minor" - wave 3, this would give us a completely different picture and a completely different counting (as shown above) The result would be an "Expanded Flat"-corrective pattern, with an 3-3-5 counting! - For an "Expanded Flat" the rule for wave b is 123,6% of wave a (fits perfectly!!!) AND for wave c 123.6% – 161.8% of wave ab, shown as pink lines at bottom right! - Right now the NDX is in "Minute" - wave c, also finished wave 1 and probably wave 2 as well (with an "Diamond"-pattern on Friday, followed by a failed test of the 5429 resistance)! Looking on a 1' - scale you can see all the signs of weakness... Maybe there will be a retest of the 5429 and I would be glad, if a breakthrough would succeed, but I don't believe.
Comment:
BTW, the black lines .236 and .382 are the retracement-levels for wave 4, calculated from a wave 3, starting at 4860 (2016-12-30) and ending at 5439 (2017-03-21). These levels are absolutly conform with 123.6 % or 161.8 % of the ab-wave of the highly probable "Expanded Flat".