Nasdaq: Dabbling in the Water 💦
Nasdaq is looking for refreshment and thus is dabbling in the blue stream between 12317 and 11600 points in the sandy yellow river bed between 12894 and 10501 points. The index should dive a bit deeper into the water now to finish wave v in magenta just below the mark at 12100 points, but it could also decide to leave the river directly. In both cases, Nasdaq should subsequently rise above the resistance at 13583 points to complete wave i in magenta between this mark and the next one at 16569 points. Afterwards, the index should approach 13583 points again to end wave ii in magenta. However, there is a chance that Nasdaq could emerge from the river on the other side and drop below 11600 points.
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