Nasdaq at decision point

Lately Nasdaq 100 prices are enclosed within MA200 (resistance) and MA50 (support), which directly implies the presence of a "death cross" signal. A rising channel encompasses the price oscillation with the mid-line providing support to the short term trend. A negative break could initiate an ominous y-wave correction, whereas a continuation of the uptrend could lead towards a value of 4600 by October 27, to complete a c-wave.