Nasdaq is shuffling on, but the going is tough – to coin a phrase. However, we expect the bears to take more action soon! They should drag the index into the orange zone between 12 577 and 12 136 points, where wave ii in orange should end. Afterward, the bulls should take the helm again, inciting Nasdaq to develop wave iii in orange, which should reach about 14 000 points – providing that the support line at 11 806 points remains intact.
