NASDAQ 100 – Bullish Minor 5 – Bulls Come-Back

6 thg 7, 2017

NASDAQ 100 very much looks like it has been trading in Bullish Impulses since Feb 2016, with shallow Retracements, signaling a possible continuation for a final Bullish Swing in Minor Wave 5 (blue), thus completing the Bullish Cycle for Intermediate (3) (green).

Wave Count and Bullet-Points:

Intermediate (1) (green) has a nice and clean look, with 5 waves on the up-side and without bending any significant Elliott Wave rules.
Intermediate (2) (green) retraced 50-61.8% of Intermediate (1) (green), unfolding with a Zig-Zag Corrective Structure in its ABC Minor (red) Sub-Waves.
Intermediate (3) (green) began its strong Bullish Trend in June 2016, presenting an Extension worthy of a 3rd
Intermediate (3) (green) – Wave Analysis:

Minor 1 (blue) presents a 5 Wave Sequence, with weak Corrections and without entering Intermediate (1) (green) territory.
Minor 2 (blue) presents a weaker than usual Pullback, unfolding as a Simple Flat Correction type, gaining Support at the bottom previous degree Minute IV (turquoise), thus signaling Bulls (buyers) come-back.
Minor 3 (blue) is to be treated as the 3 of 3’s and the most powerful wave on the presented chart, which presents a good 161.8% Fibonacci Extension of Minors 1 & 2 (blue).
Minor 3 (blue) – Wave Analysis:

Minute I (turquoise) unfolded with a Leading Diagonal, excellent sign of Impulse continuation.
Minute II (turquoise) did not retrace much, paving the way for the upcoming Bullish Trend to really kick in and establishing the Bullish Channel which will later show the lower Trend-Line Support reliability.
Minute III (turquoise) posed significant gains with its Rally, presenting the strongest Swing and confirming the Impulse.
Minute IV (turquoise) retraced very little as well, unfolding as a Running Flat, another good sign of Bulls running the game.
Minute V (turquoise) continued the gains with a 5 Wave Sequence, presenting a 100% Fibonacci Extension of Minutes III & IV (turquoise).
Minor 4 (blue) – Bullet-Points:

ABC Minute (red) Pullback unfolding as a Flat Correction.
Minute C (red) presents so far an equal length of Minute A (red) but there is a possibility for a deeper Pullback until the 161.8% Fibonacci Extensions of Minutes A&B (red), also the default 38.2% Fibonacci Retracement Levels of Minor 3 (blue).
NASDAQ 100 – Minor 5 (blue) – BUY Positions:

Aggressive – 5600.00
Conservative – 5430.00

SL – 5300.00
Target – 6200.00

*Safety Measures:
– When in the green, moving SL to break-even or in profit.
– Watching Price Action on lower time-frames for Corrective Pattern exhaustion.

Many pips ahead!