Nasdaq

The Nasdaq Composite is more compelling for this wave count that wave 1 up completed as 5 waves and we are in wave 2. This is the deepest correction yet as we fell below the green 40dema for the first time since the March bottom. This is also subject to change over time as patterns unfold but its the first thought based on current data. How long will wave 2 down go on is a function of what the market wants to do at larger degree.