Saturday, October 26, 2019

MTU Weekend Ed - NDX (10/25/19 close)

NDX makes a new all-time high.
a second 13-week high?
 

2 comments:

  1. Its not really possible to gleam much from the NDX chart on a nominal basis MTU has put up due to the distortion of the wave count thats existed for while now.

    Eg we see 5 waves down from the Sept 2018 peak and some fuzzy count thereafter.

    But what it appears to be is in fact is either an UPSLOPING:- corrective pattern, OR alternatively a distribution zone.

    The true orthodox wave peak is Jan 2018 I suspect and that is confirmed by looking at probably from a 20 or 30 yr chart.

    Most of the Dow stocks appear to be or have past their MT / LT blowoff peaks unless something extraordinary happens to force them higher. See also other for example, General Dynamics / Berkshire Hathaway

    Remember that we are close to the end of the 9th yr of the decade where the mkt can peak (aka DJIA Jan 2000)

    Mkt Man



    ReplyDelete