The NASDAQ index is showing signs of stagnation, unable to break above its current levels. This raises questions about the completion of the presumed ending diagonal pattern, which also marks wave 5 in the broader impulsive structure.
If the pattern is complete, an extended downward move could begin soon. Traders should watch closely for a break below the local minimum — this would be the signal to enter aggressive short positions.
Until then, the index may continue to consolidate near the local high, or attempt one last push upward. Either way, the broader setup remains bearish.
Investment Idea: SELL 21500, Stop Loss:21900, Take Profit:20000
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Bob Stan
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