NASDAQ Update: So Far So Good

In my last update, I mentioned "If we breach $14853 then I will call that confirmation of a top. We have a good start by breaching the Wave iv of a smaller degree, but we really need to breach the Wave iv on the intermediate degree." This will be the main focal point to verify we're headed for a new bear cycle or at minimum a giant retrace.

We hit my target boxes for this b wave to be considered complete. Next, we should head down towards my target box for its c wave of larger A. Then another retrace up, after which I think is where we get a big move to the downside. That IMO will be the move that verifies a new bear cycle/large retrace. Point being, if this count is correct, we should spend the next week maybe even two weeks sub-dividing lower. The more we sub-divide the stronger the primary moves end up being.

There is a turquoise (iv) in the box, as I'm sure y'all noticed. This is because until we have conformation the top is in; we have to keep the option on the table another high could be made. For now, it is my ALT count. MACD is looking to pick up steam as of this writing, so it is a real possibility at this time.

--Bonam Fortunam
--Tyler