I've subdivided the hourly chart of NDQ into a subminute 5 wave structure of a minute abc. Wave 4 has just hit the 38.2 retracement and bounced off. This may be the begining of wave 5 of c of B. A cross below 16040 would suggest wave B is complete and we have started a wave C downwards. MyMACD still in bullish territory.
Trade attivo:
It's happened. NDQ has crossed and closed below (and closed below) the 50% retracement of wave 3. Since 61.8% retracements of 3 rarely hold, my preferred count is that B wave completed @ 0.784 extension of A and we are now in a C wave. If what we are seeing is wave 1 of C it looks like it's going to be quite dramatic.
