kimms

Nasdaq in 5th leg of Elliot Wave?

TVC:IXIC   NASDAQ Composite
Legs 2 and 4 have retraced 50% of legs 1 and 3 respectively and the downward pattern is pausing at each fib retrace level. Given that we are just in the first week of a correction, I think the likelihood of further down side is fairly high. Maybe the 5th leg stretches two fib levels instead of one. Thought I'd share this idea to get some feedback as I plan my next moves.
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