Image Source: PixabayJust when you think it can’t get stranger – it does! The Nasdaq fell apart on Wednesday with the AI stocks dependent on Taiwanese chips taking a beating. This brought the NQ to its knees somewhat with the ES also participating in the “smack down” as well. The DJIA on the other hand rallies strongly up over 200 points for most of the session. The RUT started higher but then also got caught up in the downside momentum finishing lower. From what I can tell, the NQ did manage to make the near-term picture somewhat clearer in that Minor Wave 3 is complete, and the anticipated Minor 4th wave is now underway. I again adjusted the labeling and updated the Fibonacci levels for the decline.Video Length: 00:32:32More By This Author:Nasdaq 100 & S&P 500 Elliott Wave Update – Tuesday, July 16S&P 500 And Nasdaq 100 Elliott Wave Daily UpdateWeekly Technical Update: Nasdaq 100 – Sunday, July 14
