Like a (Nas-)duck before the thunderstorm, Nasdaq is facing the ascent we expect in the course of wave iii in orange. The index has been struggling to proceed with the upwards movement for some time â however, appropriate impulses are visible. Now, Nasdaq should climb further northwards to complete wave iii in orange before starting a countermovement into the orange zone between 13 082 and 12 277 points. There, the index should conclude wave iv in orange and subsequently veer upwards again. There is a 40% chance, though, for Nasdaq to drop below the support at 10 636 points. In that case, the index would first develop new lows in the turquoise zone between 10 326 and 9 779 points before rising again.
