NDX tech outlook

The NDX downside count was activated again with the SEQ count proceeding. To days market is a perfect prove how manipulated markets are – its even worse than I thought. Between Friday and now nothing has changed in a radical way. The official version is now the recession started in Dec 2007 – wasn’t Bernanke around that times insisting everything was wonderful and Paulson supported the message by claiming just a little real estate problem. The Broker yearend wa scrucial as they wanted their own stock prices higher – why else do financials drop more than 105 today. Looks like wave 4 of 3 is finished as expected and we entered now wave 5 of 3 down in case of the NDX it means we have to drop below the big handle (1000) briefly. The Rydex Nova /Ursa has risen to a we can get a crash level so we might see another capitulation which might bring the NDX to 900 – the potential to the downside is up to 20% from current levels but that might come in 2 steps.

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~ by behindthematrix on December 1, 2008.

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