NASDAQ 100
The impulse of wave 3 reached 3.272% of wave 1 and bounced off it downwards.
It remains to be seen whether the NASDAQ has ended wave 4 with the last correction, or whether wave 4 should consist of the red abc formation.
In the chart, the upward channel is still intact and, if left down, the red c is confirmed.
In such a case one could enter long without worry and wait until wave 5 forms a new high, which should take place in November.
If, on the other hand, the price remains in the trend channel, then wave 5 will mark a new high straight away.
MACD is still bullish.
It remains to be seen whether the NASDAQ has ended wave 4 with the last correction, or whether wave 4 should consist of the red abc formation.
In the chart, the upward channel is still intact and, if left down, the red c is confirmed.
In such a case one could enter long without worry and wait until wave 5 forms a new high, which should take place in November.
If, on the other hand, the price remains in the trend channel, then wave 5 will mark a new high straight away.
MACD is still bullish.
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