No replies to this topic

[CRUISENAL]

Can anyone here explain what pattern the NDX has been in since June? In the bigger picture I see it as a B UP or a W-2 UP and suspect 2. But what is the pattern? I thought it was a ABCDE but that is now past unless you add FG. Since I tend to follow past patterns, I suspect we will see a dip in the NDX again to around 2500 and then one more bounce higher to fill the gap at 2700. From there I see it as allot of dowside. Not looking at fundamentals here, only technicals and patterns. This year to me is playing out like the NDX did in 2000 where we saw a big rally out of the Oct. 1999 low to a high in March 2000, followed by a decline into late May followed by a choppy 3 month rally into the upper BB on the weekly chart. IF we see this pattern complete this time, I am looking for a 12-14 day decline here to 2500 with a reversal in mid August and a rally to follow to the upper BB at 2700 and followed by a turn down thru the 50 SMA on the weekly chart. Once below the 20 it's a B-Line to the 200 SMA and below. And minimally I can see the NDX getting to 2050 around the Weekly 200. So looking for a decline after 2700 to 2050 over the next 7 months into mid February. May never happen as well. But the technicals I read suggest this is a possible outcome. I am considering we are in the final stage of a Cyclical Bull inside a much bigger Secular Bear and the BEAR may be about ready to Growl! We shall see. Alan