NASDAQ - There is our correction!
NASDAQ After the reversal that started yesterday evening, we have to ask the following question: Although the NQ did not reach the target of 14656 points, it shows a clear v recovery. Currently, however, this is not enough for a real trend reversal. It looks more like a wave B & a recovery movement before another corrective wave c.
Primarily, we must continue to assume that we will approach the area from 14656 points to 14331 points. There I will also store a target area, depending on today's and tomorrow's price action.
The Nas now has a chance of having already completed the correction. But the turning point does not meet the standard fibo levels. That’s why I think that we could see another leg down.
If the market breaks above 15.306 again, I will change my setup. I want to see a reversal between 15.152 & 15.259. Otherwise the probability for another corrective movement decreases.
Primarily, we must continue to assume that we will approach the area from 14656 points to 14331 points. There I will also store a target area, depending on today's and tomorrow's price action.
The Nas now has a chance of having already completed the correction. But the turning point does not meet the standard fibo levels. That’s why I think that we could see another leg down.
If the market breaks above 15.306 again, I will change my setup. I want to see a reversal between 15.152 & 15.259. Otherwise the probability for another corrective movement decreases.
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