Please find below our preferred Elliot wave count for the NASDAQ (aka $COMPQ). We prefer this index to be minute iii of minor 3 of intermediate iii of major 3 of Primary V. That’s a lot of three’s 😉 but the Fib-extensions for each wave degree overlap rather well.
For example; the 200% extension of (green) minor 1, from minor 2 targets nicely the 123.6% extension of (red) intermediate i, from iii; which is a typical 3rd wave extension target. In addition, the (red) 200% extension of intermediate i, from ii, overlaps nicely with the (yellow) 261.8% extension of major 1, from major 2. This signals a very extended 3rd wave and extended 3rd waves often hit the 2.618x Fib-extension. We therefore see an ultimate Primary V target of $6700-$6900 for the COMPQ. Note the labeling is not to time-scale.