At the time I am writing the Nasdaq futures are trading @ 15250 which (if held on the cash) would confirm we are in a Primary B wave targeting 16050 to 16300 area. Expect resistance @ 15370 (1.618 extension of the move off the lows).
Side thought :
Targets are being reached at an unusual rate. Moves which normally develop in weeks are now taking a matter of hours. This leads me to believe that the Cycle C will be reached before month end which will ignite a Supercycle 5. Depending on where Cycle C ends we could see a Nasdaq above 20.000 before this summer and more scary, below 10000 before year end. I'll post the Cycle count this weekend.
Thanks for following.
Side thought :
Targets are being reached at an unusual rate. Moves which normally develop in weeks are now taking a matter of hours. This leads me to believe that the Cycle C will be reached before month end which will ignite a Supercycle 5. Depending on where Cycle C ends we could see a Nasdaq above 20.000 before this summer and more scary, below 10000 before year end. I'll post the Cycle count this weekend.
Thanks for following.
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Bear trap snapped.
csmottola71
about NDQ