NASDAQ closed at new record at 14138.77 overnight (S&P 500 also closed at record 4187.62), but was short of intraday record at 4175.11. Further rise is in favor in NASDAQ for now, nonetheless, as long as 13698.66 support holds. Based on current momentum, it should at least breach 14175.11.
The major near term test is from 61.8% projection of 10822.57 to 14175.11 from 12397.05 at 14468.91. Firm break there will confirm underlying medium term up side momentum, and pave the way to 100% projection at 15749.59. However, rejection by 14468.91, followed by break of 13698.66 support, will extend the corrective pattern from 14175.11 with another fall, before completion.
