NASDAQ Update: How Low Can You Go?
This will be at the forefront of my mind when it comes to the NASDAQ. You will notice there are 2 arrows on my chart. One labeled Bear count, the other Bull Count. These are just stating I have 2 diff counts going on this chart as I am attempting to track a bullish and bearish scenario.
For this decline, I will mainly track as a bullish correction until we breach $14853.50. If we breach this price, then it will confirm we have indeed topped in this structure and are beginning our descent down. That could end up being either, a retrace of a bullish structure that would NOT breach the lows of $10484.75, or it could end up being a C wave from the ABC pattern that started Nov. 22nd 2021. If it is a C wave then we would have much much lower to go. Bullish retrace would end somewhere in the neighborhood of $11500-$12000. Time will tell, but for now, I expect the pattern displayed as a bullish structure on my chart to play out.
As always ask questions/create debate! Thats how we grow and enlighten ourselves.
Bonam Fortunam,
--Tyler
For this decline, I will mainly track as a bullish correction until we breach $14853.50. If we breach this price, then it will confirm we have indeed topped in this structure and are beginning our descent down. That could end up being either, a retrace of a bullish structure that would NOT breach the lows of $10484.75, or it could end up being a C wave from the ABC pattern that started Nov. 22nd 2021. If it is a C wave then we would have much much lower to go. Bullish retrace would end somewhere in the neighborhood of $11500-$12000. Time will tell, but for now, I expect the pattern displayed as a bullish structure on my chart to play out.
As always ask questions/create debate! Thats how we grow and enlighten ourselves.
Bonam Fortunam,
--Tyler
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
