NASDAQ - ABC DONE & NEW TARGETS
NASDAQ:
After an upward movement in 5 waves, the nasdaq made a correction (ABC). Even if I expected a stronger correction, the chart signals further upside potential.
After an ABC correction, there is often a new trend. This trend is moving in 5 waves. Waves 1, 3 & 5 are impulse waves. Waves 2 & 4 are marked by a correction. In the chart you can see that waves 1 & 2 have already been completed. After completing wave 2, I was able to determine further targets with the help of a Fibo extension. There is a high probability that wave 3 will exceed the increase in wave 1 by 161.8 percent. Accordingly, my next target is 13818. After that, a corrective movement should occur. Wave 3 is mostly corrected by wave 4 between 38.2 and 50%. After a corrective movement, wave 5 is the final target. As a result, I see a potential of up to 14351, because wave 5 can even be 261.8% longer than wave 1.
After an upward movement in 5 waves, the nasdaq made a correction (ABC). Even if I expected a stronger correction, the chart signals further upside potential.
After an ABC correction, there is often a new trend. This trend is moving in 5 waves. Waves 1, 3 & 5 are impulse waves. Waves 2 & 4 are marked by a correction. In the chart you can see that waves 1 & 2 have already been completed. After completing wave 2, I was able to determine further targets with the help of a Fibo extension. There is a high probability that wave 3 will exceed the increase in wave 1 by 161.8 percent. Accordingly, my next target is 13818. After that, a corrective movement should occur. Wave 3 is mostly corrected by wave 4 between 38.2 and 50%. After a corrective movement, wave 5 is the final target. As a result, I see a potential of up to 14351, because wave 5 can even be 261.8% longer than wave 1.
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ABC DONE:
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