Nasdaq100 does not match the above-mentioned US Indices, in fact the structure points towards a breach as a possibility, as the strong support and trend-line has been breached already.
In a bearish scenario, NAS100 could retest the previously broken trend-line and would face a “challenging” resistance.
August 2018 – November 2018 wave count:
- Bearish sequence, with a sharp correction in Intermediate (A) (red) and a Running Flat in Intermediate (B) (red).
Intermediate (C) (red) could be sustained, with bearish volumes on its side, and a sell-off continuation could send NAS100 towards grounds even lower than the ones seen back in February 2018.
In a bearish scenario, NAS100 could retest the previously broken trend-line and would face a “challenging” resistance.
August 2018 – November 2018 wave count:
- Bearish sequence, with a sharp correction in Intermediate (A) (red) and a Running Flat in Intermediate (B) (red).
Intermediate (C) (red) could be sustained, with bearish volumes on its side, and a sell-off continuation could send NAS100 towards grounds even lower than the ones seen back in February 2018.
