All focus will be on the NDX as the current wave (5) rally is on going that shows our bullish count into major top at 11500. The immediate rally should take us into 11300-11500 higher. Currently facing significant Fib resistance at the 127.2% retracement.
Please do you DD. NDX is pulling back before the last gasp up then with the stimulus and fed injection. After that we get a crash in the next couple of months and it could be sooner.
Just noticing how the 2 have similar structures. BTC is currently in a falling bull horn which implies $4500 incoming. But NDX has a smaller correction coming to the 618. But when the NDX began its rising wedge B4 the crash BTC formed this bull horn, but looks like both have a dump coming B4 another move up.
Noticing a pattern here, looks like every 2 years the NDX gets wrecked B4 completely retracing back to all time highs, then selling off for a nice pull back B4 continuing it's parabolic scam.
Remember that SPX and VIX decide what NDX does. NDX will need the green light from those instruments.
Seeing everyone bearish for a month because they just discovered the (future) catastrophic impact of Covid-19, while the NDX is still going up. First, yes I agree with most bearish FA here, but please note that even with my average-Joe knownledge, I was expecting the bad news already in March (especially for the US). If I could predict it with my stupid mind, I...
Looking at NDX vs. inflation. Looks like in a better shape than SPX (higher highs, higher lows) with - if it breaks current level - a continuation of the bull trend until end of September / beginning of October. My interpretation of the chart is that a "double top" might be found at this point (0.5 fib from tech bubble in this chart, around 10.000/11.000 pts level...
Now here is the big story: looks like NDX is not synchronized with SPX... As mentioned in the S&P's technical analysis section of our Discord, we have no alternation within this weak impulse (W3 < 1.618*W1) and prices channel well.
Nasdaq 100 Index (2H) / Bullish & Bearish Elliott Wave Counts
Nasdaq Index (1H) / Bullish & Bearish
Nasdaq 100 Futures (4H) / Bullish & Bearish Counts
Nasdaq 100 Futures (4H) / Bullish & Bearish
PA is not ideal for an impulse. We are struggling on the support of the channel. Exciting times ahead though.
Nasdaq 100 Futures Still Holding The Channel. Little 1212 down?
NDX topped at the intersection of the 1.272 extension at the 0.786 fib time (of the duration of blue subminuette A).
We are drifting into the inferior part of the channel. As you can see, prices are well contained within parallel lines since the bottom and have been flirting all the way up around the ML. This is not bullish price action. Within an impulse, the base channel is usually breached to the upside. We may have topped at the 1:1 extension in SPX and at the 1.272 in NDX....