S&P500 update: 2600 next?!

Last week I reviewed the NASDAQ charts and several other (indirect) indicators. See here. Although the price-charts looked weak and the indirect indicators were flagging warning signals, I was cognizant of the fact that “Price now needs to drop below … $6335 and below the mid-August low ($6177) to confirm major-3 peaked. If it fails…

A review of the NASDAQ’s charts

This is an excerpt of this week’s digest available to premium members only. Contrary to the DJIA, click chart to the right, the daily chart of the NASDAQ (see below) has no peak relative strength values (RSI5) but instead¬†sports negative divergences, has triple negative¬†divergence on the MACD and contrary to the DJIA peak money flow…

Will the NDX determine where the SPX goes next?

This is an update to the July 8 Premium Member Weekly Digest. 4th waves tend to typically retrace 23.6 to 38.2% of the prior 3rd wave. In this case intermediate-iv of intermediate-iii on the NDX, and these retrace levels correspond to $5600-$5414. It is impossible to know before hand which retrace level it will be…