If this plays out then we should be seeing relentless higher highs with small consolidations in between to complete the five wave structure that will create another all time high on the Nasdaq. Everyone will say this is crazy and unsustainable. RSI will be constantly hot. The following B wave should be sharp and relatively short to retest the prior all time high and move up again with the same degree of skepticism to make another new all time high. It could take to end of next year to complete the Wave 3 of five wave ending contracting diagonal. Target would be something between 20k - 25k. Wave 4 of 5 should be a larger degree correction creating enthusiasm among bears only to disappoint them once again to put in a sharp new all time high for a real real top. Could be by end of 2026. What happens afterwards is not something I want to think about right now.
Alternatively, market is putting in the B wave of a very large correction and C wave will take Nasdaq to 8k by end of next year. In that case, market should start a relentless downtrend right about now...
Alternatively, market is putting in the B wave of a very large correction and C wave will take Nasdaq to 8k by end of next year. In that case, market should start a relentless downtrend right about now...