Just when you think it can't get stranger - it does! The Nasdaq fell apart on Wednesday with the AI stocks dependent on Taiwanese chips taking a beating. This brought the NQ to its knees somewhat with the ES also participating in the "smack down" as well. The DJIA on the other hand rallies strongly up over 200 points for most of the session. The RUT started higher but then also got caught up in the downside momentum finishing lower. From what I can tell, the NQ did manage to make the near-term picture somewhat clearer in that Minor Wave 3 is complete, and the anticipated Minor 4th wave is now underway. I again adjusted the labeling and updated the Fibonacci levels for the decline.
Disclaimer: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures ...
Disclaimer: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC Rule 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will, or is likely to, achieve profit or losses similar to those shown.