Sunday, 4 November 2018

Nasdaq

The Nasdaq index is seen to be entering Primary wave 3 of Cycle 3. This is not the popular view.


The profusion of negative sentiment is diabolical, but to me the daily chart indicates that the Nasdaq has completed the correction...


As with the Dow30 and S&P500 (below) the high definition view of the recent minor wave can be seen as either corrective or impulsive (to me)...


S&P500 impulsive: The retrace is but a simple wave and yet it hits a low RSI and an eye level 4th of one lesser degree at the 38.2% retrace level. 


The seasonal and election cycles support the development of Primary wave 3 from hereabouts.
Does my contrarian take mean that I must have suffered a bipolar episode and have now lost my senses? The sound of agreement can probably be heard by all the elephants and most of the whales.
Scott Grannis thinks there is nothing wrong with me...
http://scottgrannis.blogspot.com/2018/10/still-just-panic-attack.html


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