The Nasdaq Long-Term (Potential For Major Crash | ~70%)
When we look at the long-term chart for the NASDAQ Index (NDX), going back to 1985, we have only one major crash and that is between the year 2000 and 2003.
The NDX saw a 80%+ correction.
That is a drop of -83.49% in 944 days.
Here is the chart:
It took the index over 6,000 days to recover to its year 2000 All-Time High...
We believe a new correction will take place.
When we look closer at the monthly chart, multiple bearish signals we can appreciate...
Follow me:
1) We can see the TD Sequential printing a perfect 9, telling us that the market is overextended. In the next few sessions doubt start to crip in.
2) In October we have a full green candlestick. The candle that follows with a #2 is a shooting star, a bearish candle.
3) The next candle is a Doji, signaling indecision in the market...
4) This months current candle, we have a full red/bearish candle which is moving below EMA10. Another red candle and we have full breakdown confirmation. Only a close above the Doji's high can cancel this signal out.
At the same time, we have a MACD trending bearish with a young bullish cross:
We have bearish divergence on the RSI since January 2018... The NDX is getting ready to drop.
The monthly candle closes in 5 days at which point we either get a rejection or confirmation based on candlestick reading.
Closing below 14,750 would be strongly bearish for this index.
We expect a very strong crash throughout all markets unless something critical happens on the positive side in the next few months.
Remember to support me with your LIKES, share, comments and follow.
Namaste.
The NDX saw a 80%+ correction.
That is a drop of -83.49% in 944 days.
Here is the chart:
It took the index over 6,000 days to recover to its year 2000 All-Time High...
We believe a new correction will take place.
When we look closer at the monthly chart, multiple bearish signals we can appreciate...
Follow me:
1) We can see the TD Sequential printing a perfect 9, telling us that the market is overextended. In the next few sessions doubt start to crip in.
2) In October we have a full green candlestick. The candle that follows with a #2 is a shooting star, a bearish candle.
3) The next candle is a Doji, signaling indecision in the market...
4) This months current candle, we have a full red/bearish candle which is moving below EMA10. Another red candle and we have full breakdown confirmation. Only a close above the Doji's high can cancel this signal out.
At the same time, we have a MACD trending bearish with a young bullish cross:
We have bearish divergence on the RSI since January 2018... The NDX is getting ready to drop.
The monthly candle closes in 5 days at which point we either get a rejection or confirmation based on candlestick reading.
Closing below 14,750 would be strongly bearish for this index.
We expect a very strong crash throughout all markets unless something critical happens on the positive side in the next few months.
Remember to support me with your LIKES, share, comments and follow.
Namaste.
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
lamatrades.com (Since 2017)
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
followalan.com
🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
lamatrades.com (Since 2017)
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.