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Nasdaq 100

31 Mar 2016 ‚óŹ 06:23 AM

The Nasdaq after a long time, and I am looking at the Nasdaq 100, that made its record high reading only in Dec 2015, a big inter market divergence. What is clear on most charts is the 5 wave decline from that high, so wave A/1 down is complete and we are waiting for the 3rd wave to start. Here is an interesting count that fits the bill, and right at the Big gap down left behind on the first day of the new year in Jan 2016 as markets crashed. Yesterday we touched the gap up exactly and sold off. Wave c has formed an ending diagonal at the end of a bounce back, completing the pattern and setting it up for the big third wave decline. 

nasdaq310316

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