NASDAQ - prepare for an intermediate correction! (wave iv?)

The Nasdaq reached my primary expectation and achieved the minimum targets I set. If the index falls below the level of 13776 points, I assume that we are in the next intermediate correction, which should primarily takes place within the range of 13600 & 13400 points. But we could also see a deeper correction (as you can see in my secondary scenario) - A correction is needed for a bullish run!

In both cases it is important that the corrective movement is completed over 12954 points. Below that, we would have to look in the superordinate chart to a larger intermediate correction, which would also mean prices below 12609 points!

Conclusion: The Nasdaq can initiate its next intermedaite correction. However, I am only convinced of this if we sustainably fall below 13776 points. As long as the market can hold above this, nothing stands in the way of a further expansion of the current movement with direct new all-time highs.

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syot kilat

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syot kilat
Chart PatternsnasdaqNASDAQ 100 E-MINI FUTURESTrend AnalysisWave Analysis

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