Hello Traders
Today we will continue updating our previous Nasdaq analysis done 38 days ago https://shorturl.at/guOTU
Let’s make this very short.
We have achieved 1.618% target on Friday (Futures ) 15474 which gives a high chance for ending wave iii blue.
We should expect minor degree correction abc as wave 4 red that cab extend 15180 14860 levels. Also 14100 level should be considered as 38.2 Fib. But my technical view and from Elliottwave perspective, breaking below 14400 hurts the strong uptrend.
After that we should resume uptrend to 16500 16970 levels. Longer term target is 18500 mentioned in the above URL should you want to read more.
Also we should point out that end of June 30th, it will be quarterly closing report, so media headlines might focus on the fact the the US stocks and indices closed at significant profit as they did in previous quarter.
Support levels @ 15150 , 14860 , 14630
Resistance: a break above 15490 targets 15730 15940 16500 levels.
Be careful of strong rejections or pullbacks upon retesting these levels.
Trade safe, manage your risk. Should any change occurs, I will make an update ASAP.
Happy hunting.
