No my primary count is we are in C of Wave 2 corrective on Nasdaq.
The preceding B part of that wave was particularly deep and extended hence like stretching a coiled spring and the subsequent sharp rally.
If you recall I said I was a buyer of NVIDIA in and around $200 and it's rallies from $206 to $267.
Its now on the verge of a double bottom breakout so if this happens on volume it will test it's all time highs and take Nasdaq with it.
Having rallied 30 percent it's now overbought so may need a period of consolidation.
It could fail here but how Nvidia acts is a good guide to Nasdaq outcome as my target of 15300 is still valid at present
Daily Price Movement / General Discussion, page-45872
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$1.58 |
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| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 3 | 19469 | $1.58 |
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| Price($) | Vol. | No. |
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| $1.58 | 33400 | 3 |
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