Elliott Wave 5.0 "Reboot"

Thursday, April 14, 2016

Mini Nasdaq Intraday Bull Market Review

As usual the Mini Nasdaq is on a different path than the other indices, but one thing is certain and that is we have one crazy choppy bull market with many overlapping waves. A correction should be near or a downright reversal of this trend. 

The majority will call anything that goes up a bull market, but with Elliott Wave this is not the case as bear market rallies can be huge and most of the time bear market rallies completely retrace themselves over time.  We have only been in a rally about two months, which eventually will get completely retraced. 

We still need to be aware that this can be a diagonal 5th wave type of a move and if that is the case we should see "ABC" corrections develop.