N0tSwift

NDX - Top? A/B/C Next? Please correct me if I'm wrong.

TVC:NDX   NASDAQ 100 Index
No matter how I look at Nasdaq, it looks to be at the top of an up wave and due for a correction.
EWave/Trend says we should be about done with wave 5 and due for a correction.
2008-2020 trend up is already broken (to the upside).

Spike in RSI and MACD cross also look bearish to me.

Add in macro economic conditions and well, I want to see the bull, but I keep getting mauled by the bear.
Please help me ObiWan, I cannot understand the force that is driving Nasdaq! Inject me with hopium!

*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*

Comments

General idea is on course but your waves are off glidepath; '1' is never the longest and the zig-zag at end of long run-up is a corrective phase, it's likely a WXYXZ correction wave, follows the run-up, but is not part of it: correction started on 3 September, likely to complete in December.

Had a WXYXZ correction from May > Oct 2019 as well. When it's done will probly get a monster rally again, and a monster crash 2021 EOY...
+1 Reply
N0tSwift DaddySawbucks
@DaddySawbucks, Thanks for the notes.
Reply
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