Nasdaq Composite Index - Trade Idea
The Elliott waves counts would suggest that the 4th wave is completed at 12,557 and the current move is just the beginning of an upward impulsive 5th wave. A daily close above 13,998 will accelerate the upward trend and send prices higher to 14,250 and 14,510. Above 15,280 will make the upward scenario more credible and leave the door open for new highs.
Only a daily close below 13,022 will invalidate the upward scenario mentioned above.
Only a daily close below 13,022 will invalidate the upward scenario mentioned above.
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