At the time I am writing the Nasdaq futures are trading @ 15250 which (if held on the cash) would confirm we are in a Primary B wave targeting 16050 to 16300 area. Expect resistance @ 15370 (1.618 extension of the move off the lows).
Side thought :
Targets are being reached at an unusual rate. Moves which normally develop in weeks are now taking a matter of hours. This leads me to believe that the Cycle C will be reached before month end which will ignite a Supercycle 5. Depending on where Cycle C ends we could see a Nasdaq above 20.000 before this summer and more scary, below 10000 before year end. I'll post the Cycle count this weekend.
Thanks for following.
Side thought :
Targets are being reached at an unusual rate. Moves which normally develop in weeks are now taking a matter of hours. This leads me to believe that the Cycle C will be reached before month end which will ignite a Supercycle 5. Depending on where Cycle C ends we could see a Nasdaq above 20.000 before this summer and more scary, below 10000 before year end. I'll post the Cycle count this weekend.
Thanks for following.
Idee correlate
Bear trap snapped.
csmottola71
about NDQ