NASDAQ can be unfolding a five-wave drop, down from 16612 lvl., where we identified end of a bigger corrective wave (2). At the moment price is sharply turning to the downside from the 14647 lvl., and breaking below the lower corrective channel line which is an indication that sub-wave 4 of (3) is completed, and sub-wave 5 underway.
Price will ideally trade in impulsive fashion towards the 13571/13300 area, before a bigger consolidation as wave (4) shows up.
Price will ideally trade in impulsive fashion towards the 13571/13300 area, before a bigger consolidation as wave (4) shows up.