Elliott Wave 5.0 "Reboot"

Friday, February 19, 2016

E-Mini Nasdaq 100 Intraday Correction Review Or Something Else?

It amazes me to see the amount of open gaps that are in this chart, above and still below present prices. There is never any certainty "when" the gaps will get closed,  there is only the certainty "if" they will get closed.  That big gap up top works like a hidden magnet always tugging at prices. 
Now if some big names that are in the Nasdaq 100 also have gaps above, then chances are real that sometime in the future a rally will be big enough to close all these gaps. 

As I post the Nasdaq is back into a rally so we have to see if my top trend line gets broken again. 

Right now I am looking at it from a potential ending pattern which I would love to see happen. 

Next week starts off with a full moon, which has been known to be bullish for stocks.  I followed the moon cycles for a long time once and found no consistency that one can count on every 13-14 or so days.  Sure, I've seen dramatic reversals on those days, but not anything consistent I can count on.