Browse Stacks: Analytics: Elliott Wave: QQQ 2 hour 4.11.14.png
QQQ 2 hour 4.11.14.png
QQQ 2hour. The recent action shows 5 overlapping waves each of which each has a a-b-c (3 wave) form. This shows a lot of indecision. Most often this is a corrective pattern that leads to new highs. But this pattern can also occur at tops in which this would define the first wave down. In this latter case there usually is still a deep retraction or even double top before the next fall. I don't know which scenario will play out but for other reasons I think the top may well be in. Either way I would not be surprised to a bounce starting Monday or Tuesday. Take care. Good luck to ya T.
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