Nasdaq Intraday Bull Market Update: Down To The Wire

Once again the Nasdaq is down to the wire before breaking to  a new record high. The sharp drop in May could have been part of an expanded pattern which, if it is true always sends the markets to newer highs. Apple, which is the big elephant in the room will not maintain its price no matter how many freaking iPhone 8 models that the experts figure it can sell. 

On this Thursday we are going to hit the new moon date, followed by a holiday on Monday. The new moon dates can produce dramatic reversals in stocks, plus we are getting closer to the end of the month as well.  If we reach a new record high, then the next correction should go much deeper, than what we have had so far. The entire rally that started back in mid April would also be completely retraced. Eventually the entire Trump rally will also be left in the dust, which the US dollar has already done.  

A new record high will force the Cycle degree wave 3 to be moved to a new home.  All my work on this blog is dedicated to tracking and confirming all the historical 5 wave sequences in Cycle degree.  My goal is to find a permanent home for Cycle degree waves 3-4-5, as without them no SC or GSC degree wave patterns can develop.

My work is at a minimum 2 degrees lower than what the majority of expert wave analyses is working with, and back in 2000 my wave count now is a minimum of 4 degree levels lower.