A Nasdaq Black Hole - Unprecendented yes, Impossible no Before anyone says anything...yes Elliot Waves are completely subjective BUT IMHO i have drawn these correctly....
The NAS made a violent move from 22100 down 16300 in a very short space of time. So what? It will just make another ATH right?
Well, of course. It almost certainly will, the real question is when. If this pattern plays out, it won't be in 2025.
After every impulse on any timeframe, long or short, you'd naturally expect a pullback.
However, not all pullbacks are the same. Usually, the first significant pullback for a corrective wave is no more than 50%.
However, if you have a pullback that is 61.8% or more, it is usually considered an impulsive wave.
What the difference? Corrective waves have3 waves, ultimately trending in one direction, and impulsive waves have 5 waves trending in one direction.
If the Nasdaq falls beneath 20900, with increasing volume, this will signify confirmation to me at least, that we could be starting one of the most violent impulsive bearish waves in the history of financial markets.
