Could this be a double top on the naz ?

The job market and a policy mistake is what I think derails this market. The Smartest people on wall st are eventually wrong.
This feels like the start of a downward trend but we shall see. A break below 20k on a closing basis will be the confirmation.

 

I guess you are talking about the Nasdaq Composite and not the Nasdaq 100.

A break below 20,000 in the composite is about 7% from ATHs.

That is about what many are expecting for a dip sometime during the rest of year.

The SP500 was/is expected to dip between 5 to 10%. And the Nasdaq a few percentage points more than the S&P.

So a break towards 19,500 could easily be near the bottom of the dip.


Dips are very common during bull markets, while bear market are pretty rare.

 

I agree “businessman”. I just think the job market is weakening and a policy mistake can cause a 10% plus drop.

 

Absolutely no doubletop.

NAZ is going sideways.

 

Macro is undeniably bad. We're within 2% of a top through EOY.

 

You are bullish? Well fuck me if that’s not a sign of a top being near. You were bearish for the entire bull market.

 

You finally made parole?

 

What double top?

Post a chart image.

 

looking good

 

@S2007S is - just regurgitating what CNN and MSNBC says - @S2007S has no fucking opinion of it's own.