E-mini NASDAQ 100: Three Waves Down Are Pointing Higher
Today we will take a look at E-mini NASDAQ100 June contract as this market seems to have a better and clearer structure. On the 4h chart below we see a three wave set-back from the highs, probably accomplished after recent strong upward reversal, back above 4350. We see rally from the low in impulsive fashion so we suspect that market will stay bullish, but be aware of a short-term retracement into wave 2-circled before going higher.
NASDAQ100 (June 2015) 4h Elliott Wave Analysis