US Stocks are close to the edge of a market crash

The NASDAQ100 is not looking good at all.
I think it is quite close to the edge already. Who knows for how long it might go on...
But if it does drop the next target would be 6200.

Likewise the next targets for the major US indices would be
SPX -> 2550
IXIC -> 6650
NAS100 -> 6200
DJI -> 22850

So I don't know about you but it *might* be a good idea to take the money to safety now.
This is just an idea to share, it is not a sell or buy recommendation!

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By the end of trading week, the FX:NAS100 is still looking very bad on 2h chart

If it goes on like this, we're heading for a crash.
The critical level will be 6750. If the index goes lower it and stays there, it is only a matter of time until the next slip to 6200 happens

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Okay, as expected, it's started. Buckle up!

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We're on track. Going further down!

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Yesterday US stocks soared after Federal Reserve chair Jay Powell said In a speech before the Economic Club of New York interest rates were 'just below' neutral, tempering his tone on rate hikes. Following the release of Powell’s remarks, U.S. stocks were soaring with the Dow up more than 400 points and all three major U.S. indexes up more than 1% on the session. NASDAQ-100 went up 2,9% in just 4 hours!

Now in the following days we shall see if this spike is sustainable.

The level to watch is 6785.

If it goes back down and remains below this mark, could prove that this was only a short pleasure.

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I wonder where the price goes next

This might well be an extension of decline, not a trend reversal yet

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So it is happening now. As initially feared.

Merry Stock Market Crash and a Happy Re-Entry in 2019!

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That's what I think has been happening on the big scale of things (red) and what's going to happen (blue)

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I've received some comments saying, "Wave 1 can't be longer than Wave 3" or "Wave 2 can't go up"
My response to this would be: Yes, it can!
S&P 500 is a bit "special"
Here is how MSCI World (www.msci.com/world) Elliot Wave looked like - same dates, same time periods!

This picture is again fine for diehard Elliott Wave theorists, right?

Or you could also see it like this

Whichever serves you better. It is important to understand that reality never follows some old-fashioned textbook, reality is often more complex and varied than some rigid rules. You have to be adaptable to recognize the most important thing anyway!

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See my recent idea

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I've been fiddling with the curves a bit more and now I think I know better what's been going on:

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As predicted, the crash is indeed hapenning!

For follow-up outlook see my recent idea