The waterfall decline that has been the Nasdaq 100 over the past few weeks took a bid today on a tame inflation report. For how long and how high is the real question as the initial bid higher ran out of steam as soon as the market opened for business today, although a mid-session recovery has QQQ well off of its lows of the day. QQQ 2 Hr Two distinct Fibonacci retracement zones overlap in the middle of the shaded rectangle. I often use alternate measurements like this because wave labeling is not an exact science, but alternatives do intersect around key areas. In this case, a reversal down now will strongly suggest a move toward the lower wave targets, 440-400 on this chart. A break higher, out of the top of the rectangle and a smorgasbord of Long ideas will make their appearance, starting with TSLA (TSLL) near or at the top of the list. Bottom line: The next big move in either direction should be a whopper and eminenty tradable. IWM Daily "The pause that refreshes:" Next leg continues to look down, to well below 200. TSLA Short-Term (15 Minute) A close into and above $250-$255 will establish an initial 5-wave impulse move on the short-term charts. As soon as the pattern appears on hourly and daily charts we will be buying Sep 2025 and Jan 2027 TSLL calls. TSLL Sep 2025 Calls TSLL Jan 2027 Calls
