We did get another leg down. That was the easy part of forecasting. Now we have to find out if the correction is over and if not what shape it will take.
Let's not give too much power to the fact that markets are patterned esp. when we are dealing with consolidation. They can take different shapes. Your guess is as good as mine. But trading with guesses can be costly. So the bottom line is regardless of market action in the next couple of days, we do expect the Naz to make new high. Once there we will analyse the market carefully as we are ending something. ( see our analysis on the Dow linked below. )
Let's not give too much power to the fact that markets are patterned esp. when we are dealing with consolidation. They can take different shapes. Your guess is as good as mine. But trading with guesses can be costly. So the bottom line is regardless of market action in the next couple of days, we do expect the Naz to make new high. Once there we will analyse the market carefully as we are ending something. ( see our analysis on the Dow linked below. )
