At this time this Nasdaq chart is just barely squeaking into an impulse type pattern as my 4th wave is has just kissed the top of my 1st wave. Still, I can work it as a diagonal if this chart dips a bit more.
What we do have is a monster big gap that opened up as this Nasdaq chart crashed. Any previous gaps that opened on the way up, in the last 2-3 months have all been closed. Will this gap get closed sooner than later or do we have to wait many years or much longer?
The VIX also has a huge gap in it that will only be closed once the VIX hits the $18 price level.
My bet is that we still have a rally to contend with and that this rally may break an all time new record high for this E-Mini Nasdaq 100 chart.
The US dollar has also broken
rank and charged up, so this could crash the price of gold as well. In short, this could bring back a fit of madness called "Stock Mania"! This back and forth is not going to go away that easily, but we also have what looks like a 4th wave triangle, which means a minimum one degree higher change must be initiated, once this triangle plays out. Since I am still working it as a Minor degree, then at a minimum, we should end on an Intermediate degree top.