NDX appears to be completing an Elliott wave Expanding Flat Correction
Wave (a) was 140.90 x 1.382 = 194.72 + 5633.30 wave (b) targets 5828.02 wave (c)
Wave (c) appears to be forming an Elliott wave Ending Diagonal Triangle.
Wave I = 141.80 x .50 = 70.90 + 5759.69 wave IV targets 5830.59 wave V
Wave "3" of a five wave impulse can never be the shortest wave. Therefore the count is wrong above 5836.24
The Ending Diagonal will likely complete on 6/26/17, typically wave "5" overshoots the upper trend line.
A short in the NDX 5828 to 5831 area risks 5 to 8 points.
Minimum downside move is back to NDX support at 5633-5634. Reward about 195 to 198 points.
Mark
Wave (a) was 140.90 x 1.382 = 194.72 + 5633.30 wave (b) targets 5828.02 wave (c)
Wave (c) appears to be forming an Elliott wave Ending Diagonal Triangle.
Wave I = 141.80 x .50 = 70.90 + 5759.69 wave IV targets 5830.59 wave V
Wave "3" of a five wave impulse can never be the shortest wave. Therefore the count is wrong above 5836.24
The Ending Diagonal will likely complete on 6/26/17, typically wave "5" overshoots the upper trend line.
A short in the NDX 5828 to 5831 area risks 5 to 8 points.
Minimum downside move is back to NDX support at 5633-5634. Reward about 195 to 198 points.
Mark
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.