The DJI has completed 5 waves down in a leading diagonal from its all time high to complete Wave A, and is now retracing in wave B which will subdivide in 3 waves, before it completes 5 more waves down for Wave C.
In my Primary count I have the Nasdaq either finishing a minor wave 4 at around 15950 before rallying to around 17k +/-200pts reaching the 161.8%(17060) extension target from intermediate wave 1 to complete intermediate 3 and then correct 10-15% in intermediate wave 4. The alternate count is that we are already in intermediate wave 4 correction
Since the recent low in BTC which hit its target for a wave to 2 (prior Bulilsh Count) it seems like we are still moving in a corrective pattern rather than impulsive, therefore it looks like another visit to the 30k area is the most likely outcome as this Primary wave 4 flat pattern needs 5 minor waves down to complete intermediate wave (C) of Primary 4. Fib...
In my count the Nasdaq 100 has already topped, completed the first 5 waves down an is now working on a retracement before going for the next 5 waves down. Given today's price action we now have our targets for that Wave C retracement, ready to add to our short positions.
After the price action on Friday I now think my count on the smaller timeframe was one wave ahead as we've had a wave 4 Minute Wave degree followed by wave 5 Minute and an expanding flat correction for Minor wave 4, so will have a new ATH to complete Minor, Intermediate, Primary, Cycle and Super Cycle wave 5.
According to my Elliot Wave count I have the S&P about to complete Cycle wave 5 and going into a Super Cycle Bear Market possibly the most epic Bear Market of our lifetime. I wonder what the Black Swan event will be.
We have now invalidated the bullish count for the Nasdaq as wave 4 has overlapped wave 1 and we have our first 5 waves down. Looks like the Nasdaq is heading to a Bear Market. Will be looking for a short trade as we retrace to the 61.8% Fib level.
Looks like we have completed the expanding flat correction for Minor wave 4 and have now started Minor wave 5 to complete Minor, Primary and Cycle wave 5. Very substantial correction expected after this last move up.
