Today was the turn for the bulls to be trapped ... or was it?
From mondays lows the Nasdaq appears to be forming a Fibonacci AB=CD pattern that would propel it to 14840. This would be significant because breaking above 14620 would reinforce the count in which we are now in an intermediate B wave with primary target at 15150. A break below 14050 would deny this formation and possibly signify the flood gates are open.
From mondays lows the Nasdaq appears to be forming a Fibonacci AB=CD pattern that would propel it to 14840. This would be significant because breaking above 14620 would reinforce the count in which we are now in an intermediate B wave with primary target at 15150. A break below 14050 would deny this formation and possibly signify the flood gates are open.
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Bear trap snapped.
csmottola71
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