Looks like we are still in a lower degree wave 3 advance. I was totally wrong last prediction calling a decline at $16153. Although we closed at 100% fib advance at $16153, it blew right through it the next day. This is a strong bullish signal. Looks like we're starting a wave (iv) and it should be more complex than wave (ii) which wasn't much of a correction. But unless something goes wacky, Nasdaq shows a high probability of hitting the 1.618 fib at $16685 near Nov 15th. I'd look for a strong reaction here. Any pull-backs in the blue channel should be buy signals. Look for buy signals/consolidation on a shorter time frame if it hits inside the blue channel. Much Later I'd like to see it pull back toward 100% fib at $16153. It really should pull back to this level in the short term(by EOM).
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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.