The Next Market Downtrend Is Close

Published 11/10/2014, 01:07 PM
Updated 07/09/2023, 06:31 AM
US2000
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NYA
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I have 11 sub waves completed last Friday. I usually get tops on my major up trends with a count of 11, 13, or 15 sub waves.

Those sub-wave counts are based on my daily and hourly charts that confirm each other.

I also use some other indicators that help me identify tops and some of those are saying that the sub wave count of 15 is the top. The market will let us know!

I will keep you posted and let you know when I see the next market top. It will be fun to see if I can nail it.

Also if you have been following my posts, you remember that I have been very bearish for the last few months. So a little bearish update is the Russell 2000's 50-dma and 200-dma are still showing "bear market".

The next index that will show "bear market" is probably going to be the NYSE Composite. It is only 64 points away from a "Death Cross".

Happy Trading,

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