My post on 11/30/16 noted that the Nasdaq had completed five waves down with bullish momentum divergences and to expect a rally on 12/1/16. On 12/1/16 the Nasdaq continued lower in an impulsive manner. Again it counts as a completed five wave pattern with bullish divergences. Assuming the pattern is complete a three wave counter trend rally should develop on 12/2/16. A .382 retrace is at 5301.40. A .618 retrace is at 5340.60.
The DJIA went up on 12/1/16 and is the most bullish index. There is a high probability the DJIA will make a new 2016 probably on 12/2/16. If the Nasdaq has rallied in three waves to one of the resistance areas with the DJIA is at a new 2016 high it could be a great time to short stocks.
WATCH THE NASDAQ!
Komen
The_Unwind
⋅
Mark,
Your post shows you are in the zone. I like how you are using inter-market index analysis to position for the next major shorting opportunity. But Mark, this has major implications
if you look at longer term chart patterns, Daily, Weekly, Monthly.
The Nasdaq 100 NDX has a TEXTBOOK HEAD AND SHOULDERS PATTERN WEEKLY CHART> patterns which I am recently noticing are playing out with Bearish or Bullish Implications (Reverse H=S)
PLEASE OBSERVE FOR 12-2 Trading, and BEYOND>
If the NDX were to close below 4651.51, the WEEKLY BAR of 9-12-16,this week, or any week in the future 2016-2017
then the NECKLINE of the HEAD AND SHOULDERS PATTERN WOULD BE BROKEN and would confirm THE MAJOR TOP IS IN
and project price of NDX from 4911.76 TIME HIGH,measured to the 4651.51 Low is 255.25 Points Projecting Minimum Downside Target of $4396.26 !!!
INFORMATION ENCLOSED is of an URGENT NATURE> PLEASE LOOK AT WEEKLY CHARTS
YOU are correct to focus on NASDAQ MARK. THE START of a BEAR MARKET COULD BE VERY CLOSE AT HAND if this Head and Shoulder's Pattern in the NDX were to execute.
Your post shows you are in the zone. I like how you are using inter-market index analysis to position for the next major shorting opportunity. But Mark, this has major implications
if you look at longer term chart patterns, Daily, Weekly, Monthly.
The Nasdaq 100 NDX has a TEXTBOOK HEAD AND SHOULDERS PATTERN WEEKLY CHART> patterns which I am recently noticing are playing out with Bearish or Bullish Implications (Reverse H=S)
PLEASE OBSERVE FOR 12-2 Trading, and BEYOND>
If the NDX were to close below 4651.51, the WEEKLY BAR of 9-12-16,this week, or any week in the future 2016-2017
then the NECKLINE of the HEAD AND SHOULDERS PATTERN WOULD BE BROKEN and would confirm THE MAJOR TOP IS IN
and project price of NDX from 4911.76 TIME HIGH,measured to the 4651.51 Low is 255.25 Points Projecting Minimum Downside Target of $4396.26 !!!
INFORMATION ENCLOSED is of an URGENT NATURE> PLEASE LOOK AT WEEKLY CHARTS
YOU are correct to focus on NASDAQ MARK. THE START of a BEAR MARKET COULD BE VERY CLOSE AT HAND if this Head and Shoulder's Pattern in the NDX were to execute.
Joe