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The Nasdaq has reached its next intermediate target and I´m preparing for a possible countermovement. This would bring the market back around 300 points.
Specific targets:
Fibo levels in the chart!
Yellow box = main target zone
This area can be used for long positions!
However, the start of the intermediate correction cannot be identified clearly and I still assume that we can see higher prices. The market still has more room to run in this wave 3. The Nasdaq also likes to exhaust its third waves up to 223.6% extension. In this case, that would give the market room for up to 14793 points.
I can only state that the market has reached an area that can provide a small intermediate correction. Everything above 13957 (corridor of wave 2) points remains bullish!
Current situation:
The zone between 14564 and 14627 points has an effect on the market, insofar as the upward movement has slowed down a bit. But there is still no sign of a counter-movement. It must be assumed that the market is still in the wave (3). And this wave still has space to expand further. Even 14796 points would be achievable in this way. Only then I have adjust the count. But for now it will stay that way, as long as the Nasdaq does not break out directly above 14796 points. I still assume a smaller pullback in the near future (around 300 points).
Conclusion: the Nasdaq continues on its way. An intermediate correction remains primarily planned as long as we do not take off directly above 14796 points. On the downside, the further upward movement in the current scenario is safe as long as it does not fall below 13958 points.
The Nasdaq has reached its next intermediate target and I´m preparing for a possible countermovement. This would bring the market back around 300 points.
Specific targets:
Fibo levels in the chart!
Yellow box = main target zone
This area can be used for long positions!
However, the start of the intermediate correction cannot be identified clearly and I still assume that we can see higher prices. The market still has more room to run in this wave 3. The Nasdaq also likes to exhaust its third waves up to 223.6% extension. In this case, that would give the market room for up to 14793 points.
I can only state that the market has reached an area that can provide a small intermediate correction. Everything above 13957 (corridor of wave 2) points remains bullish!
Current situation:
The zone between 14564 and 14627 points has an effect on the market, insofar as the upward movement has slowed down a bit. But there is still no sign of a counter-movement. It must be assumed that the market is still in the wave (3). And this wave still has space to expand further. Even 14796 points would be achievable in this way. Only then I have adjust the count. But for now it will stay that way, as long as the Nasdaq does not break out directly above 14796 points. I still assume a smaller pullback in the near future (around 300 points).
Conclusion: the Nasdaq continues on its way. An intermediate correction remains primarily planned as long as we do not take off directly above 14796 points. On the downside, the further upward movement in the current scenario is safe as long as it does not fall below 13958 points.
