If correct this first minute 5 wave impulse down marks the start of a much bigger decline, for now the correction of
this first wave down may aim to fill the breakaway gap but this in not necessary. A solid break and close below
7328 will confirm. Good Luck
Excellent call on NDX peak at 7700.
Bulls eye exact hit my friend.
To give supporting evidence to strong NDX sell signal in progress
after a counter trend move up to NDX all time high of 7700,
NDX weakened almost as quickly...,
and then dropped sharply thru 7400 support
supporting your Wave 3 Impulse Decline.
Bullish Percentage on NDX (BPNNDX) (not available on this site),
has dropped below 50%, generating a new Sell Signal in BREADTH
or participation of stock in bull mode, implying NDX leadership is shrinking.
Deeply oversold momentum however could have bottomed last wee...,
McClellan Oscillator is in position to support a potential strong bounce back rally.. soon.
NDX, lets see how strong the corrective bounce is!
7400 Resistance..and then Straight Down !
Great Call Geoff.