Nasdaq 2550 this summer.
Looks like the nasty will break out for a nice spring rally and most probable should take us to 2500 for a summer rally. We are in a leading diagonal that measures 2500 and this diagonal is in a 5th wave on a preferred count.
Draw your top line starting at late dec.04 touching aug high and
your bottom line starting at april 05 low touching oct lows.
Now if you look at the box from Jan.06 to present, you'll see and nice a-b-c correction that concludes in february 06. an important impulse wave-1 began 2-13 and typically and this is what you want, corrective wave-2 was slammed down on 3-10, now we are at the begining of the most powerful wave of all, W-3 and the last two days proved it with volume
Also there is a demented bullish descending triangle in that same box time frame from 1-9 to present.
Anyone think we hit 3200 late 06 or early 07, which would be the 50% retracement off of 5000 top of the go-go years?
