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Good afternoon realtraders,
The next few posts will relate to where we've been and where we may be
heading with regard to the NASDAQ from an Elliott Wave perspective. This
chart shows the NASDAQ Wave 3:3:C/3 declining into the 161.8% APP (Alternate
Price Projection) of Wave 1:3:C/3, which is very typical, and the 424%
retracement of Wave 2:3:C/3. It also declined into a Major GET MOB and right
between it's time lines which typically hold impulsive moves. As far as time
goes it reversed 1 day after the 161.8 ATP (Alternate Time Projection) of
Wave 1:3:C/3. As Robert Miner says "When Price, Pattern & Time coincide a
change is inevitable."
Lenny
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