NDX - Will it make 10000?
NDX has broken the previous high on the back of the skyrocketing FANG stocks. Surely the moon is now in sight?
I am not so sure and looking back to the start of this EW cycle it may be that a top is very close.
Cycle wave III was a fib 4.238 of wave I and 0.618 of the waves I to III range is around 9870.
Even with the massive rises in wave V RSI has diverged from the high in wave III and continues this trend.
If correct cycle wave V may be an ending diagonal which may have reached wave 3 to be followed by waves
4 and 5 with wave 5 maybe spiking to the 10000 point.
Good Luck
I am not so sure and looking back to the start of this EW cycle it may be that a top is very close.
Cycle wave III was a fib 4.238 of wave I and 0.618 of the waves I to III range is around 9870.
Even with the massive rises in wave V RSI has diverged from the high in wave III and continues this trend.
If correct cycle wave V may be an ending diagonal which may have reached wave 3 to be followed by waves
4 and 5 with wave 5 maybe spiking to the 10000 point.
Good Luck
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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.
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.