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!
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...
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...