Applying the Wave Principle to the Nasdaq Composite, one can see that the market still have a lot of back-and-fill to do before completing an impulse wave that started at the early 2016 low. I might be off a bit in the subdivisions but nevertheless there's at least two majors sideways-up move before contemplating a roll-over to the downside.
There's a lot of bears out there so the market still have work to do to suck them all in. Then and only then the market will reverse as it always does in due time.
Good trading.
There's a lot of bears out there so the market still have work to do to suck them all in. Then and only then the market will reverse as it always does in due time.
Good trading.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.