Nasdaq 100 Index (NDX): Something is Wrong in the Market

in #money6 years ago

SUMMARY

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The more charts I analyze on the equity side, the more I'm seeing signs of a potential intermediate topping. I've shown this with FedEx, UPS and other charts stating that a minor recessionary pressure might be arriving. The below chart of the Nasdaq 100 Index (NDX) is showing that five waves are likely nearing completion; if not already! The red circle designates some more upward mobility but very limited. This shows that the technology sector could be readying for a potential correction that translates into a recession.

The ABC correction will likely retrace to the prior white wave 4 or so and that'll probably mark the 0.618 Fib level, as shown in the below chart. The subwaves of whtie wave 5 show that blue 5 could be remaining.

From a cycle degree of trend; white wave I and II are complete and III is in progress. Blue wave 1 of III is nearing completion and blue wave 2 of III is the correction to be expected soon.

Here is an interesting comparison of NDX to the Bitcoin (BTC) charts. I believe Bitcoin is reflective of NDX back in 2008 or so before making is meteoric rise to current levels. Bitcoin could also follow a similar fractal pathway!

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Finally some traditional stocks index prediction.
And you will be wrong about it.
A hidden hand controls stocks indices prices and will not let them correct under Drumpf presidency.

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This analysis is great! Thanks for the jewels of knowledge @haejin!

I wonder if more money will flow into crypto if the US markets starts its collapse...

I wonder the same thing. Will money flow into cryptos if the market corrects? So far no, there have been some mini corrections but when that happens bitcoin always seems to be below $10,000 and it stays there.

I would be very interested in learning more about this topic/experts opinion. HMU if you know any good resources.

I’ve felt for a while that the equity market is running on fumes, but what do I know? I can’t go out and short it just because markets can stay irrational longer than I’m solvent.

With the 2018 US tax reform all those corporate tax savings could (and may likely) go to share buybacks, continuing to keep equities propped up indefinitely

Thanks for the information. Copied

Thank you, Elliot Wave theory intrigues me and I'm following with great interest to see how this pans out.

I wish that I could understand you posts 😅

So, bitcoin is good right now? Time to buy more?

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