waverity

waverity

Nasdaq Composite is overbought and has reached resistance area. Time to play the wave (4) on the short side before the last up wave that should bring the index back to its high of 2000 for a massive double top formation of wave (5) V.

waverity

A drop to test the previous high at 14 200 is expected. A new high would invalidate this view. Only a definitive break below this level would validate that a major top has been made and that the index could drop all the way down to the bottom of it's expanding triangle.

waverity

The DOW INDU is at resistance, a drop is expected to at least test the previous high of 2007 near 14 200. Only a break below that level would validate that a major top has been made - and that the market could drop all the way to the bottom of its expanding triangle.

waverity

Natural gas broke above the neckline of it's bullish reversed Head & Shoulders pattern. Potential is equal to the height of the formation, giving a $7.30 target.

waverity

Play the wave 4 down to test previous high near 1600/1580, Tight stop just above recent highs.