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Nasdaq Composite

16 Nov 2017 ‚óŹ 05:22 AM

The Nasdaq formed a triangle into Sept. And from there we are in wave 5 up as discussed in the last post. So far 3 waves are up and wave IV may have just formed. Wave II found support at the 20dma, and wave IV is now at the lower end of the channel and 20dma near 6660. So holding 6660 wave V to 6900 may start. The Dow has s different pattern where wave 5 maybe complete. Since Nasdaq lagged behind in starting this move it maybe alone and an inter market divergence may develop. 

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