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Nasdaq Composite perfectly dropped out of the red box
The red box formed by a confluence of two 223.6% fibs perfectly stopped the rally as expected. Now we are getting that micro wave iv down before the very final push higher. As you can see on the chart below, this drop may target from 23.6% retracement to 50% retracement of the completed wave iii up (the green retracement fibs on the right).