Nasdaq hit the 200 MA and began retracing. We'll see if the top was the a leg of the Cycle B wave or a minor correction of a sub count. A b leg should retrace at a minimum 38% of A though I would expect a 44% correction to retest the previous resistance now support. From wherever the b leg is formed, expect a strong impulsive move towards 15800 / 16.000. Another possibility is that this b leg (sub b) develop into a complex pattern, possibly a triangle, which we haven't seen much of.
