Wave count – Nasdaq 100

Looking for an irregular terminal pattern C wave – $35 to $36 is inflection zone.  Overlap prevents the C wave from being classified as impulsive.  If correct, this count doesn’t mean that the bear market necessarily has to resume.   This could merely be an A wave of a larger flat or triangle.  I do have a more traditional diagonal alternate, but time proportions don’t favor that count in my eyes.  Getting stopped out a few times before catching  the next down wave should be viewed as operating expenses.  Stop loss will keep those expenses low.  Also, below I have posted an impulsive variant.  Depending upon which waves are classified as “hidden threes” creates the variance.  I don’t like the time dimensions of the large 2 wave on the impulsive count.  However, this would come as quite a shock to a lot of people if it were the case.  In a wave 2 scenario, the public would feel like; “here we go again”, which would seem reasonable should the next wave start retracing.

11:40 AM

Updated @ 12:40 PM