NASDAQ (1h) is still trading above 7000! Shown here is a rather bearish count, showing that the correction isn't over yet. TP1 could be 6649 and TP2 could be 6323.
See below for further details.
See below for further details.
Comment:
Comment:
NASDAQ is trading in a downward leading channel, which is bullish, but has not been broken yet to the upside. During the last hours, there also could be a little pennant (blue dotted) which could be another sign of an ongoing bull-market. - Making a more bullish recount of the whole pattern (with grey wave "a" would be a wave "1", grey wave "b" would be a wave "2" and wave "bc" would be a wave "3"), it would also be possible, that NASDAQ is terminating a wave "4", instead of grey "1", a short and powerfull final upswing (wave "5" within a Extended1-pattern) would be possible and the Gap at level 7000 would not be closed.
Comment:
Show below at 1min:
Comment:
Comment:
As can easily been seen, level 7015 has been tested several times and a breakout of the red channel also failed, during the last hour on Friday! Now, if level 7015 breaks on Monday, the door would be open for testing levels below 7000 (gap closing, break of blue SL., etc). - Risky business...