Nasdaq - I did not expect it to change so fast - just last week it extended to a new high but the rally has ended quickly in 3 waves. Meaning the new high was a corrective move. This can only be true if the pattern is a triangle or complex fractal. The chart below shows a potential expanding triangle for the given time period in wave 5 and in this way wave 5 would appear complete on the Nasdaq and Dow, both closing down for the week. The implications of the expanding triangle are on the chart. The size of the pattern below the neckline.