Elliott waves, fibonacci and 16H histogram showing NAS is close to a reversal.
Looking for a final drop to 1566 to close out bearish histogram.
Would like to see in the 16H:
-one more red bar in the histo, pulling the MacD closer
-then, a green bar in the histo for the MacD cross
Hammer at the peak of wave A good signal of a nice pump to come!
IF we get the bounce at ~1566, we may see it hit ~1999! With a pullback to ~1774 and another pump to ~2393.
Let's see!
Since NAS fell through target support 1566, therefore, an alternate wave structure needs to be considered and the next support level identified.
NAS is still in a major ABC consolidation pattern however, instead of heading down to sub Wave-A, it's sub Wave-B. To confirm this alternate idea, we need to see a bounce a 1387.
And as each subsequent target hits, the more accurate the (peak) target, 2524, becomes.
Would love to see this plays out!