NDAQ seems to be forming a bullish impulse consisting of primary sub-waves ①-②-③-④-⑤.
Horizontal correction wave ④ has ended as a contracted intermediate triangle.
Wave ⑤ is a potential new bullish impulse, and it has completed intermediate sub-waves (1) and (2).
In the short term, we could see an increase in prices until the end of the primary impulse wave ⑤, near 160.08. At that level, it will be at 76.4% of wave ③.
However, the alternative option hints at an incomplete primary correction ④.
In this case, it has a complex double three formation (W)-(X)-(Y).
Most recently, the bullish intervening wave (X) completed its pattern, which took the form of a minor double zigzag.
Finally, we could see a drop in prices in the final intermediate wave (Y) to 123.53. The target is on the support line, which is drawn through waves W and ⓑ.