An ending diagonal occurs in wave 5 of a rising market and marks the last and final push higher. So the Nasdaq closing below the lower line of the wedge yesterday was an important market signal of a breakdown in trend from an Elliott Wave perspective. It means we could be in a correction that could last for weeks. The S&P 500 also sports an ED that should follow and break as well.
The Truth About The Markets: SEBI Research Analyst - INH000023630
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The Truth About The Markets: SEBI Research Analyst - INH000023630
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.