NASDAQ100 Is Back In Uptrend, But Pullback Can be Close
May 12 2020
Can you imagine that NASDAQ100 is already at that February gap? I remember very well, when we were talking about that possibility back in March, when everyone were extremely bearish, so market did the opposite; straight up to the gap or even ATH is now possible before deep pullback occurs. Price is now in the area where everyone will realize the market is bullish again, but again it appears they can be to late. When majority "goes in" with sentiment in positive zone, the turn is close.
Keep in mind that when a pullback occurs, be aware of a three wave set-back. In ideal formation we will see a zigzag, structured by A-B-C legs, which could be actually a new opportunity to join the market, before prices resumes even higher.
Trade well, Grega
Impulse, followed by a three-wave correction:
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