Nasdaq
Wave A not completed yet at NASDAQ 100, but almost close to itSub-sub wave (((3))) of sub wave ((5)) in progress, Looks like wave (((3))) is extending at down-side, so we may expect Nasdaq going down and completes its wave (((3))),(((4))),(((5))) in coming sessions
Assumptions: This is assumed, that wave ((4)) is completed. what if wave ((4)) is not completed, That's entirely different, lets wait for the market to unfold. But currently we can consider this scenario
Overall : NASDAQ is undergoing Zig-zag (5-3-5) correction at longer term, where wave A is about to complete its role, followed by we may expect pull back as wave B
NASDAQ idea and ranges I’m looking at. Potential bullish divergence building up on the daily. It would of course depend on how the market does on Monday. I’m expecting a bounce from around 12400 in the coming days/weeks. Markets could possibly bounce after the FOMC next week. I’m bullish for mid May.
Nasadaq Index Analysis - Harmonic Pattern Dow Jones and Nasdaq have given a clear positive outlook. Nasdaq has formed a perfect ABCD pattern and has given clear break out at 61.8 Fib level.
This indicates that the US market looks positive and hence i see an up-move in the Indian indices as well.
The targets are as mentioned on the chart.
This is for educational Purpose only.
US100 fell by about 5.24%US stock exchange showed sign of bearishness in the last week.
Oil prices are smoothing.
Dollar weakening.
10 Year Bond Yield Increasing.