Daily NDQ Elliott

16 בינו׳ 2022

I think the Minor correction is completed and we are in a B wave of intermediate level. Typically B waves retrace 38% to 76% of A. The Minor B extended beyond these levels so I would expect the intermediate to fit in this range. However, Minor B was a regular zigzag, so I expect Intermediate B to develop into a more complex structure. We'll see. For now I think short term dip buying is the best strategy at least until we enter the 38 to 76& retracement area.