No changes here to last weeks chart or the previous weeks chart either, it is following our Wave 3 nicely here, the 1.618 Fib is the likely spot to see a pull back, I have $MSFT above its 1.68 Fib but $AAPL is a good bit below its 1.618 Fib, which is not a surprise to see the $QQQ somewhere in the middle, about to hit the 1.618 Fib......showing just how important both of these companies have been on the $QQQ.
So What Now?
The plan remains the same here, a pull back is due and it would be healthy, if $QQQ is your ETF of choice, waiting for the Wave 4 pull back target to hit would be the ideal spot to add.
Jeff Akrawin
2023-05-18 04:35:25 +0000 UTC