NASDAQ now appears to be in the fourth wave as predicted in the post below. This is what I had said: "...the second fourth wave could start in two weeks (between 17-24 February) from around 9700."
What's next?
The fourth wave can take a number of shapes but if it is a just an ABC correction, then wave A may already be complete and we could move up in wave B early next week, followed by a fall in five waves of wave C. Wave C could take us down to around 8850 if it is 1.68 times the length of wave A or to just to around 9200 if it is equal in length to wave A.
Alternatively, wave 4 could be a triangle as shown in the chart below or a more complex correction. A triangle will be a shallow correction but is expected to take more time to complete. Let's see how it evolves.
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
What's next?
The fourth wave can take a number of shapes but if it is a just an ABC correction, then wave A may already be complete and we could move up in wave B early next week, followed by a fall in five waves of wave C. Wave C could take us down to around 8850 if it is 1.68 times the length of wave A or to just to around 9200 if it is equal in length to wave A.
Alternatively, wave 4 could be a triangle as shown in the chart below or a more complex correction. A triangle will be a shallow correction but is expected to take more time to complete. Let's see how it evolves.
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
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