Currently, Nasdaq is taking a break from the exhausting ascent it has realized from the low of wave iv in turquoise. However, we expect the index to activate some more upwards momentum, expanding wave v in turquoise so that a higher top of wave i in orange can be reached. This done, Nasdaq should turn downwards and drop below the support at 13 566 points to develop wave ii in orange. There is a 40% chance, though, that the index could bounce off this mark, finishing wave alt.iv in turquoise instead. In that case, we would expect a delayed expansion of wave alt.ii in orange and thus a delayed drop below the mentioned support line.
