Nasdaq Pending Short: previous wave 4 as resistance

4 May

This idea is complementary to the S&P500 pending short idea. I've labelled the waves slightly differently but it doesn't impact the forecast for it's still the same expectation of a last wave. I purposely left it as a different count as comparison.

I would start building a short position around 20300. Stop above purple Fibonacci extension level.

5 May

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I believe that it might have reversed with the break of a trendline.