Mini Nasdaq Intraday Update

Since the bottom of the 15th of June, the Nasdaq has rallied which counts out as 5 waves. Since the 4th wave overlaps any first wave, this throws out any impulse, we may think we have.  Any impulse, that we could still be in must be an extended wave 3, as we would have to switch this move to a wave 1-2, 1-2, 1-2 count.  Any impulse count would send the Nasdaq into new record highs, with very little problems. 

Insider Selling Skyrockets in May

Insider selling soared in May,  which does not bode well for the stock markets to continue into outer space.  I’m looking for some type of 5 wave decline as they indicate the direction of a new trend. The Nasdaq has not broken anymore world records for well over 2 weeks. When the markets do not keep on making record highs, investors and day traders will get pissed off and sell, if they no longer see that they are making gains in a stock bull market. Of course the bull market may have ended already, but since the herd is pretty slow, they may not figure this out, until the markets reach that popular 20% correction price level.  

When they do realize that the 20% dip is here and they claim a 20% bear market, then I would expect this market to make a huge counter rally. That could take the rest of the year to play out, but the last few weeks in October could give us a market crash much like 1987 did 30 years ago.   It only took 3 years for a major bear market to play out from 1929 to 1932, so why should a bear market with one lower degree, be any longer?

Of course doom and gloom is the name of the game as fear is a tool to control the masses. By far the biggest use of fear is done in man-made climate change theory. 

Hits: 0

Share this...
Email this to someone
Print this page