NDX- Nasdaq is manifesting typical wave 5 behavior, Momentum is virtually flat suggesting very low participation, Maroc is virtually flat. Divergence on the rsi. Irregular price action with overlapping subwaves. @ 15230 wave 5 would hit the wave 1 extension from wave 4 low, next target 15700 area (1.618 extension) The market is ignoring both good and bad news. Earnings reports were strong as inflationary numbers were, however the market seemed to go nowhere. Maybe it's just the dog days of summer, but maybe not. From previous published analysis this sequence is a wave 5 of 5 suggesting a bear market is looming for the second half of the year. Personally, I got out last month@ 15050 and am still waiting for signals to get back in, bias is short but always ready to change my mind.
Handel aktiv:
First 5th wave target hit. Coincides with top of expanding triangle (to follow). Note of caution, 5th wave triangles can develop in 7 subwaves.
Trade stängt: målet nått:
Forgot to update. 15700 was a bullseye. (top 15701). Please see most recent Wavecount published earlier.
