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: