Nasdaq up quite strongly from 27th Aril Low so it looks like we could continue up till the 5th - 6th May so be careful around this point especially if we have a decent move up it could indicate we are setting up for a counter trend Top as outlined in my Forecast . That is the first scenario that could occur so pay very close attention to the 27th April Low and a time based stop could be placed below this point in the event the trend does shift down and breach this point . In order to calculate the potential amplitude of the price move there are two small upswings within the structure labelled 1 and 2 that may assist us in calculating upside targets
By adding these two figures to the 27th April Low we get two potential price targets of 13845 and 13680 so we will write these two targets down and see if they correlate with any other points . From the 27th April Low to the 5th May where counter trend Top is indicated measures 8 days which closely balances the time period of 10 days in diagram 2 so it is interesting that these two swings are neatly balanced in time as we move towards the May 5th Cycle date .
One Square up from the 12430 Low = 12652 and we are well above this point at the moment
Four Squares up or two full revolutions in price = 13336 so that will be a very important zone to watch if price continues to move up .
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