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January 21st, 2022: Nasdaq Chart Update

Posted by pugsma on January 21, 2022

12:00 pm EST: The Nasdaq Composite Index dropped below its October 2021 low recently. Thus, the only bullish wave count for the P1-C3 wave continue to a new all-time high above 16,212 would be that this drop is a major [4]-P1 wave to the 38% Fib retrace of major [3] at 14,049. Today the Nasdaq hit a low at 13,858 thus far. Note: This would primary (white/green) count remain valid above the major [1]-P1 high of 12,074. The alternate (red) count is a P1-C3 top at 16,212 in November 2021 and now the move lower is the P2-C3 wave down to a 50%/62% Fib retrace of P1 with targets at 11,421/9,581.

Nasdaq daily chart:

Nasdaq Technical Analysis

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