Nasdaq: Exhausted 🥱

The upward momentum of the Nasdaq appears to be weakening. In the light of our primary scenario, this is to be welcomed, as the last all-time high should ideally be surpassed only marginally the price enters the well-deserved correction of its magenta-colored wave (ii). If the Nasdaq shoots significantly further north, the magenta-colored wave (iii) could already be developed; we assign a probability of 38% to this short-term bullish alternative.