Nasdaq Composite

The Nasdaq Composite stopped at the level discussed yesterday. If wave B is complete then wave C extended by 1.618 times would point a lot lower to 6030. from 7330 yesterday. Wave B is mostly complete but on hourly charts I cannot rule out one last attempt to a minor new high in a complex structure, like a-b-c-x-a-b-c. Now you cannot fine tune too much and as mentioned yesterday the risk reward at near the highs is skewed in favor of bears here.