We are currently under the neckline of a very important trend reversal pattern known as the Head & Shoulders Pattern. If we close under the neckline we will move towards my target at 21600 over the next few months. This would total an 11.5% neckline which will drag down all the other indices with it. Be prepared if we close under this shoulder!
Follow for more...
If you are following my TA's, I have been mentioning the potential global market crash, and the sign of speculation is becoming much stronger in last few days.
Looking at NASDAQ composite (IXIC), we see few dangerous signals are starting to emerge.
1) The slope of MA 100 is starting to negative:
This actually happened in late 2015 and we saw...
The drop today was expected. We have just started minute wave 3. We will take out the recent top and most likely see our next reversal between 2830-2870 over the next 2-4 trading days. Check out all in-depth analysis on my site. Still looking for market top by mid-November above 2950-3000. The wild ride is not over yet.