Ewave count for Nasdaq appears to be wv 2 ending with wave 3 down to start before the end of the year. Wave 2 could turn into a flat or larger zig-zag that could take months of sideways trading range before wave 3 starts to the downside.
The second chart shows projections to 620, 420 and 240 based on fibonacci confluence points on log chart.
Nearer term on the third chart, there is currently (as of 8/16/09) price and time square on NDX that looks interesting for potential end to wave 2.
Market topping process may take several more weeks, but the bulk of price appreciation for wave 2 may well be complete.
No comments:
Post a Comment