Last update:
"The Nasdaq reached my primary expectation and achieved the minimum targets I set. If the index falls below the level of 13776 points, I assume that we are in the next intermediate correction, which should primarily takes place within the range of 13600 & 13400 points. But we could also see a deeper correction (as you can see in my secondary scenario) - A correction is needed for a bullish run!
In both cases it is important that the corrective movement is completed over 12954 points. Below that, we would have to look in the superordinate chart to a larger intermediate correction, which would also mean prices below 12609 points!
Conclusion: The Nasdaq can initiate its next intermedaite correction. However, I am only convinced of this if we sustainably fall below 13776 points. As long as the market can hold above this, nothing stands in the way of a further expansion of the current movement with direct new all-time highs."
Nice movement. Wave iii was extended. As I said: The minimum target was 13,818. A wave iii, however, has more and more potential - especially in indices. But if the indice rached 161.8 fibo you should expect a pullback & prepare for it.
By the way: I wouldn’t short the market in such a phase if you are a beginner. Wait & search for long entries instead. Just because we reached 168 fibo it doesn’t mean that we have to fall. It’s also possible that we see an extended iii. That’s why i would be careful with trading a wave iv.
--> I have adjusted my targets for wave iv a little bit. Have a nice day!
"The Nasdaq reached my primary expectation and achieved the minimum targets I set. If the index falls below the level of 13776 points, I assume that we are in the next intermediate correction, which should primarily takes place within the range of 13600 & 13400 points. But we could also see a deeper correction (as you can see in my secondary scenario) - A correction is needed for a bullish run!
In both cases it is important that the corrective movement is completed over 12954 points. Below that, we would have to look in the superordinate chart to a larger intermediate correction, which would also mean prices below 12609 points!
Conclusion: The Nasdaq can initiate its next intermedaite correction. However, I am only convinced of this if we sustainably fall below 13776 points. As long as the market can hold above this, nothing stands in the way of a further expansion of the current movement with direct new all-time highs."
Nice movement. Wave iii was extended. As I said: The minimum target was 13,818. A wave iii, however, has more and more potential - especially in indices. But if the indice rached 161.8 fibo you should expect a pullback & prepare for it.
By the way: I wouldn’t short the market in such a phase if you are a beginner. Wait & search for long entries instead. Just because we reached 168 fibo it doesn’t mean that we have to fall. It’s also possible that we see an extended iii. That’s why i would be careful with trading a wave iv.
--> I have adjusted my targets for wave iv a little bit. Have a nice day!
Comment:
Break below 13.774 would be the signal that we start a corrective wave iv.
Comment:
New high again - very strong!
