Nasdaq 100 Has Begun Minute Wave A

The Nasdaq 100 has begun minute wave A of minor wave Y.

Theoretically, the preferred target for wave 2 after a leading diagonal in wave 1 is the 0.786 Fibonacci level. This means that minor wave Y should take prices up to about the 15539 level. However, both the Nasdaq 100 and Russell 2000 are lagging behind the S&P 500 and the Dow by a wide margin in percentage terms. As a result, it is likely that the S&P 500 and the Dow will reach the 0.786 Fibonacci level, but the Nasdaq 100 and Russell 2000 will likely fall short of this level.