The chart provided uses Elliott Wave Theory to analyse the NASDAQ 100 index. Here is a breakdown of what the chart indicates:
1. Wave 1 (1986 - 2000): This wave represents a significant upward movement, marking a strong bullish trend.
2. Wave 2 (2000 - 2003): This wave indicates a correction or bearish phase, where the market saw a decline.
3. Wave 3 (2003 -...
1. The buyers are pushing prices to form a double top.
2. We are rallying to form wave 5.
3. We are going to for the "D" point of the Bearish Garley Harmonic(D1)