Nasdaq: The Rally Continues!

The Nasdaq ended last week with strong upward momentum, moving swiftly toward the resistance at 20,694 points. Now it's getting interesting: once the index breaks above this mark, it should quickly enter our upper turquoise Target Zone (coordinates: 21,751 – 22,425 points), where we expect the peak of wave X in turquoise. Afterward, we anticipate a pullback during wave Y, which should aim for our lower turquoise Target Zone (coordinates: 17,074 – 15,867 points). The corrective magenta wave (4) should be completed there. However, if the Nasdaq directly surpasses the significant resistance at 23,229 points, our alternative scenario will take effect. In this 35% likely case, we would consider wave alt.(4) as already complete and locate the index in the impulsive wave alt.(5).