All it has to do is confirm the severe case of divergence on monthly chart:
-RSI Monthly divergence -blue
-MACD Monthly divergence -green/red
-Awesome Oscillator Monthly divergence-histogram
divergence conditions are done when price reaches 4781 level, with oscillators not reaching at least higher levels.
If one has to see this not go into a permanent correction, the buying frenzy would need to stop, push slowly but surely the oscillator higher than 2000 levels( needs 1 year at least for that to happen).
So Nasdaq 100 is cornered into a bubble. Has nowhere to go, but down.
If the scenario has to continue, it has to breach 4800 , then keep that level forever up until oscillators catch up.
Then we can see nasdaq 10000. But for that, we need qe5-qe10 all in 2 years.
Target for top:
Target for down move?
-4000 this year
-3900 this year
-3650 this year( worst case scenario )
-3000 next year
-2700 next year
-2200 next year( worst case scenario )
-1000 nasdaq in 2 years
Expecting 2200 to be the bottom, either next year or in 2 years.
Also similar idea: