NASDAQ Elliott Wave Analysis for Thursday 15/11/2023

The wave (4) as a WXYXZ structure in the primary scenario was confirmed today as we took out the wave (3) high. At the one hand this is bullish as we are now working on a wave (5). At the other hand, we have to be carefull with the expectations for this fifth wave. With the current data we favor some more upside but we do not expect a huge wave (5) bull run.