Nasdaq dip Technically done/close. Do fundamentals align yet?

6 gru 2021

The Nasdaq 100 index shows a technically acceptable correction.
A well defined ABC wave is completed or very near completion.
But the fundamentals (FED, Covid, % rates) may not be ready yet?

The MOST IMPORTANT level nearby is the fib at 15,683.20.
That level comes from a very high timeframe fib series.
A clean bounce off that level would hint of "bottom in".

HOWEVER, be ready for another dip even if risk sentiment returns.
The "C" wave may need one more stretch for wave "5 of C" to finish.
So Monday's NY session will be critical for setting/changing the tone.

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I do not use "Fibs" in the "traditional" manner (retracements).
I use Fibs to plot "Ripples" (extensions) created by "Impulses".
Then look for "Confluences" to map the "interference Pattern".

My TV collection of ideas detailing the Concepts:
Chapter 1: Introduction and numerous Examples
Chapter 2: Detailed views and Wave Analysis
Chapter 3: The Dreaded 9.618: Murderer of Moves
Chapter 4: Impulse Redux: Return to Birth place
Chapter 5: Golden Growth: Parabolic Expansions
Chapter 6: Give me a ping Vasili: 'one' Ping only
Chapter 7: The Mighty 2.618: like a Rook in Chess

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7 gru 2021

Uwaga

Here we are!

Bounced up into resistance just now Not exactly the green path but close.

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Zoom IN (5 min) and we are EXACTLY at the resistance zone now, at London Open Lets see what London does with equities.
A pullback from here would be "expectable".
Break and retest of zone would be "very bullish".

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8 gru 2021

Uwaga

WOW, what a bounce!

Since last update, London bought, NY bought HEAVY and Asia continued buying till this post.

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Zoom IN (13 min) for a look at the last dip and bounce and the ONE fib that defined all turning points.
It defined all turning points going down AND back up.

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Zoom in MORE (5 min) for a look at the bounce and right now: We are back within the Impulse that started the last leg down.
NOW we will see if the original selling pressure is still there.
Likely we will reject from here for the requisite retrace.

But what a bounce, and we caught it PERFECTLY

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9 gru 2021

Uwaga

I have posted a follow up Idea, which might capture the TOP of the bounce, here:

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