TizTrader

NASDAQ - PREPARE FOR A CORRECTION! (6-8% correction soon)

CME_MINI:NQ1!   NASDAQ 100 E-mini Futures
One last push?

The bulls have still a bit more room to run. The wave (4) is finished and there is still some space up to 15470 points to end the wave (5) in white. But I would be careful now & I also sold most of my long positions. I expect a larger correction in this area, which should extend to below 14309 points. Here I have already temporarily stored a target area, which I will focus on when the correction is confirmed. I´m already looking forward to establish a long wing trade position in this area to trade the last big run in a wave 5! Accordingly, this correction is also to be welcomed.

In summary, I primarily expect the Nasdaq to develop up to 15,170 points and then implement a larger correction to below 14309 points from there.