Mini Nasdaq 100 Intraday Record High Update

The last part of December, 2017 we saw the Nasdaq decline, but this decline didn’t last that long once 2018 rolled around. The bulls still dominate this show, but with the wild gyrations going on we know this market is becoming unstable.  At this time we have two previous 4th wave bottoms, where we can find support. Where it stops is unknown at this time, but we also know that markets can travel well below any previous 4th wave bottom.

For any correction to have meaning, this Nasdaq must crash well below 6240. That will just barely get the Nasada bears warmed up, never mind completing a full correction.  How deep the Nasdaq bear market can, or will go, all depends on the degree level, that we are presently ending.

The Nasdaq is also coming to a Cycle degree wave 3 end, but it sure can fool us in the short term. At this intraday scale the charts can blow low degree moves very quickly as the market patterns are pretty sensitive. If all those expert wave analysts are counting the Nasdaq as a 5 wave structure in Primary degree, then they are too early by at least 2 degree levels. They will also be late in calling a bottom when it does arrive, just like what happened in early 2009.

I may not know at any specific time, as to the exact wave count I may be on, but I do have a very strong idea when I see a wave count, that it will never fit or work.

This morning the Gold/Nasdaq ratio was a bit above 5:1 which is the highest ratio I have recorded in the last year or so. One day we will kiss this 5:1 ratio goodbye, and start heading down to 2:1 again.

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