Nasdaq Bubble Deflating?

After a little rally the Nasdaq has now turned down again. I’m looking for this trend to continue if we switched over to the bearish side.already. The majority are looking just for a correction as they have no clue on what is going to happen in the next few years. Bull market tops are the breeding grounds for bear markets, so it is very important that we have a single top that we can count from.  I will always start using Submicro or Micro degree as it is easier to change to a higher degree when we need to. After a few months or so the small degrees will go back into hiding and you would need an electron scanning microscope to see them.

Folks, the higher the index goes they start to extend and all the smaller degree levels start to show. The hobby and expert wave counters do the exact opposite as they keep adding higher and higher degree levels. Some still have Primary degree wave 3 ahead, which means they are about as bullish on the markets as they can get. 2015 was a 4th wave correction in Intermediate degree, which means there was one move left in Minor degree.

As long as they give you some long drawn out complex wave structure they can flip wave counts around with no consequences. They can turn the worst wave count in the world, to another new and improved version and claim to be right.  Flipping numbers and letters around with no idea what they mean is “cosmetic” wave counting which the majority of all wave analysts practice.

We could get a big Primary degree crash, and I bet the experts will still show you a bearish wave count, when in fact an “ABC” crash is about as bullish as I can get.

Over the years the EWP has turned into a short term trade setup tool which is useless for the serious millionaire contrarians in the world today. If any wave count causes us to miss the biggest bull market since the depression, then this wave count has to be tossed out as soon as possible.

Sure the Nasdaq has a different pattern, but in the end it will also end at a Cycle degree wave 3 top.