Last update November 30, 2018
- Primary-III of Cycle-3 is topping with major-b of Primary-IV now underway. Major-c will bring IV then to the typical 38.2% retrace level of all of III, followed by Primary-V to new ATHs to complete 3. Or;
- Cycle-3 is topping and Cycle-4 will drop all the way back to just above the 2015 highs before Cycle-5 brings price to new ATHs in another decade-long rally.
Note, both options have a significant more draw downs coming… and most likely they have already started. Note this count is not the same as for the SPX. Reason is because the bear markets of 2000-2003, and 2008-2009 are not at all of the same magnitude between NAS and SPX. In addition, NAS didn’t make a new ATH in 2007, SPX did… Thus these indices are in different counts bigger picture wise.