NASDAQ Plunge Update!

 

This is the December contract which shows better when I use line type settings, but it also changes many of the wave positions.  At the top could be my first wave 1-2 in Minute degree which would make the October rally as the potential 4 waves in Minute degree which brings us to a potential wave one in Minor degree. I will need to make adjustments as this bearish phase develops, as there is more than one index that shows a high wave 1-2 pattern. Nvidia Corp has crashed over $100 already as demand for Bitcoin mining has faded fast. Fear of just about anything is pushing the markets down, besides the Fed is creating a worldwide, liquidity issue.

The Midcaps are much further along the slippery slope already and they may also be ready for another rally. Short term I may be a bit bullish but longer term a huge bear market is coming if we like it or not!

What really irks me is that the talking heads are saying to stay in the markets for the long term. This is nonsense if age is not taken into account. Many boomers that were invested in 2007 got wiped out and many have never recovered. Even early Gen X start to retire in 2029, and many will never have enough time to recoup up to 70% losses!

You can check your older relatives and I bet few if any can say, “Yes I retired at the top of the stock market with my mutual funds intack”.

Hits: 18

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