nasdaq 2-22 update ~
as per a special request – here’s my nasdaq projections.
there is three potential trajectories from the current levels.
#1. implies that we’ve bottomed, and we will begin a mean retracement to the upside to correct the 5 wave impulse.
#2. implies that we have not completed wave 5 yet, and will continue trending down until the wave 5 algo target is hit (after which we will begin a mean retracement).
#3. implies an expanded wave 5th (after hitting the expanded wave 5 target, a mean retracement to the upside will take place).
12 year nasdaq count:
there’s a good chance that wave 3 is completed on the , which would suggest that we’re going to be seeing a larger wave 4 corrective phase take place.
this could potentially last for a few years, and it is heavily reliant on dxy .
since wave 2 was a sharp correction, the law of alternation suggests that wave 4 will be a complex corrective phase.
it could take the form of a triangle, or something more simple like a wxy, wxyxz, etc.
which ever form it does end up taking, i would be expecting a move down to the bottom of our larger before it is completed.