Nasdaq is trading quite slow and choppy since 10th of June, which is a sign of a correction in the making. We can see first leg A) and the second wave B) already completed, which means only wave C) is missing. As we know current wave C) is expected to unfold a five wave move within itself, before a new reversal lower can occur. Resistance for the whole correction can later be around Fibonacci ratio of 123.6.
Nasdaq, 1H
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