NASDAQ Elliott Wave Analysis for Tuesday 21/11/2023
Sorry for the low-quality sound, my mic was not plugged in.
The wave (4) as a WXYXZ structure in the primary scenario was confirmed last week as we took out the wave (3) high. On the one hand, this is bullish as we are now working on a wave (5). On the other hand, we have to be careful with the expectations for this fifth wave. With the current data, we favor some more upside but we do not expect a huge wave (5) bull run. In the lower time frame, we believe we now finished wave ((iii) and wave ((iv)) and wave ((v)) are coming.
The wave (4) as a WXYXZ structure in the primary scenario was confirmed last week as we took out the wave (3) high. On the one hand, this is bullish as we are now working on a wave (5). On the other hand, we have to be careful with the expectations for this fifth wave. With the current data, we favor some more upside but we do not expect a huge wave (5) bull run. In the lower time frame, we believe we now finished wave ((iii) and wave ((iv)) and wave ((v)) are coming.
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