Top of the Market to you! Nasdaq to test March lows?...
Updated
08-23-2020; Nasdaq Emini @11562; SHORT w. a 7500 target
1) Potential (likely) C point of a Gartley forming - the Top of the Nasdaq and the end of this "bull" @11560-11750;
2) IFF 1 (above) turns out to be the case THEN the Gartley's 38%-61% retracement forms the Right Shoulder of the H & S @11150-11320;
3) IFF 2 (above) is the case THEN the target of the H & S is exactly the 88% retracement of the last major leg up, giving the B point of a Deep Crab - @10500;
4) IFF 3 (above) is the case THEN the target of that Deep Crab is: 9500;
5) IFF 4 (above) is the case THEN this is a 3-Drive (down) with the 3rd leg extension to 7500, which is the exact 50% retracement of this current 3-Drive up, that started @ 4000. 7500 also coincides w. the 800 Day M.A.
... other coincident indicators:
A) 10-year T. Notes are showing a 100 basis point drop - yield rise;
B) Inline w. 1 (above) the USD is about to rally;
C) Inline w. 2 (above) the Precious Metals are showing a drop; Gold -> $1850, Silver -> $19; G/S retracement to 100-104;
D) Nasdaq RSI diverging (hard) since June;
... and about a dozen more, miscellaneous indicators, all pointing to(coinciding with) this likely, final Nasdaq market top.
Hey, just an idea...
1) Potential (likely) C point of a Gartley forming - the Top of the Nasdaq and the end of this "bull" @11560-11750;
2) IFF 1 (above) turns out to be the case THEN the Gartley's 38%-61% retracement forms the Right Shoulder of the H & S @11150-11320;
3) IFF 2 (above) is the case THEN the target of the H & S is exactly the 88% retracement of the last major leg up, giving the B point of a Deep Crab - @10500;
4) IFF 3 (above) is the case THEN the target of that Deep Crab is: 9500;
5) IFF 4 (above) is the case THEN this is a 3-Drive (down) with the 3rd leg extension to 7500, which is the exact 50% retracement of this current 3-Drive up, that started @ 4000. 7500 also coincides w. the 800 Day M.A.
... other coincident indicators:
A) 10-year T. Notes are showing a 100 basis point drop - yield rise;
B) Inline w. 1 (above) the USD is about to rally;
C) Inline w. 2 (above) the Precious Metals are showing a drop; Gold -> $1850, Silver -> $19; G/S retracement to 100-104;
D) Nasdaq RSI diverging (hard) since June;
... and about a dozen more, miscellaneous indicators, all pointing to(coinciding with) this likely, final Nasdaq market top.
Hey, just an idea...
Note
..
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Nasdaq100 E-mini
Forex
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Weekly Totals (Net R.O.I.) since this article appeared:
Nasdaq100 ****************************************************
+561.5 points;
Weekly Net R.O.I., Sept., 14-18, 2020: +35.1%
***********************************************************
Nasdaq100 *********************************************
+212.25 points;
Weekly Net R.O.I., Sept., 21-25, 2020: +13.25%
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FX *********************************************************
Weekly Net R.O.I., Sept., 14-18, 2020: +11.56%
************************************************************
FX *********************************************************
Weekly Net R.O.I., Sept., 21-25, 2020: +21.67%
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