Nasdaq - New Wave Count

18 mag 2021

I think we are in the final stages of a complex wave 4 correction. A decisive break of 13400 has still not happened even though there have been plenty occasions to do this. A fib. retracement suggests a possible extension of X to 13500 before completing the move to the 0.382 or 0.618 extension. The generally erratic behavior of price action is typical of complex corrective moves. I would sell into strength in this faze and go long if we see a few heavy selling days @ around 12400/12600.

20 mag 2021

Trade attivo

Great caution here. 1 hour from close and prices have reached the first of the X wave targets, next could be the 0.768. It is likely that Nasdaq could loose 100 or so points un the last hour, bringing it back to the 13400 area.

20 mag 2021

Trade attivo

Closed above 13400, Uf confirmed tomorrow i'll review my count .... again ((

23 mag 2021

Trade attivo

I think Nasdaq is about to roll over and break the line marked as 3rd wave support, thus completing the wave 4 correction. 12400/600 my preferred targets. Analogously, US500 should be heading to retest 4000 (possibly a bit lower completing a 3 wave corrective structure.

26 mag 2021

Trade attivo

Well, that didn't happen. Instead the Nasdaq stormed through the 61.8% retracement. The current wave count is still my preferred count. A break above 13840 would make it quite unlikely and my next preferred count is quite disturbing.
I'm still expecting the correction to resume, targeting the mentioned levels.

30 mag 2021

Trade attivo

Errata Corrige. If this wave count is still correct, don't expect Z wave to go below Y, at least not by much. If you're short, pocket your profits in the 13000 area.

11 giu 2021

Ordine annullato

This count is invalidated a few days back when 19814 was broken through. Next most probable count is a larger 3-3-3, with the current leg being the third B of a triple ABC pattern. This pattern would also fit in a triangle correction starting from the top of wave 3 (v). I'll post a new chart later so this idea idea is more clear.