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Nasdaq - quick update

Nasdaq - quick update

Last update:

"The Nasdaq reached my primary expectation and achieved the minimum targets I set. If the index falls below the level of 13776 points, I assume that we are in the next intermediate correction, which should primarily takes place within the range of 13600 & 13400 points. But we could also see a deeper correction (as you can see in my secondary scenario) - A correction is needed for a bullish run!

In both cases it is important that the corrective movement is completed over 12954 points. Below that, we would have to look in the superordinate chart to a larger intermediate correction, which would also mean prices below 12609 points!

Conclusion: The Nasdaq can initiate its next intermedaite correction. However, I am only convinced of this if we sustainably fall below 13776 points. As long as the market can hold above this, nothing stands in the way of a further expansion of the current movement with direct new all-time highs."

Nice movement. Wave iii was extended. As I said: The minimum target was 13,818. A wave iii, however, has more and more potential - especially in indices. But if the indice rached 161.8 fibo you should expect a pullback & prepare for it.

By the way: I wouldn’t short the market in such a phase if you are a beginner. Wait & search for long entries instead. Just because we reached 168 fibo it doesn’t mean that we have to fall. It’s also possible that we see an extended iii. That’s why i would be careful with trading a wave iv.

--> I have adjusted my targets for wave iv a little bit. Have a nice day!

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