In one of our last articles I had explained the counting of elliot wave, and how to do the correct count. It is of importance to understand yourself how to count the waves. This wave comprehension and the count on the screen is a language and unless you understand the same, good communication between the chart and yourself cannot occur.
I had discussed in the same article how the herd sentiment is predictable and follow certain laws of nature. (Please reread the article on 21st feb 2021 ‘when to square up positions in the market’
Nasdaq now in all probability is undergoing (4) of the final 5th wave. So technically we are still in correction where we can have multiple up downs within a certain range.. Once this (4th) wave is completed , the final 5th wave will commence upwards.
The long term chart of Nasdaq is given below
