markrivest
Short

Nasdaq entering third of a third wave down

TVC:IXIC   NASDAQ COMPOSITE
37 2 3
For several weeks stocks have been chopping up and down, this could be about to end very soon.
Today 10/18/16 the Nasdaq close was only 1.8% below its 2016 high yet only 41 Nasdaq stocks made new 52 week highs. In early September the Nasdaq recorded 240 stocks making new 52 weeks highs.
Internal market breath has collapsed at the same time the Nasdaq appears to have completed a second wave two up.
The Nasdaq could begin a very sharp third of a third wave down on 10/19/16.

Mark
tomj2417 PRO
4 months ago
Nice count. Just a bit early on that correction....
Reply
markrivest tomj2417
4 months ago
Hi thanks for the comment.
There could be a lot more downside to come, I will have another post soon.

Mark

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