Another Great NDX Shorting Opportunity on 7/5/17

TVC:DJI   道琼斯工业股票平均价格指数
204 5
Today 7/3/17 some amazing things happened
1) DJIA makes a new intra day all-time high unconfirmed by the other main US stock indices.
2) At about the same time the DJIA was making a new high the NDX made a new decline low. Incredible!

Up until June NDX was leading the way up in the bull market. Now its leading the way down in a new bear market.
In bear markets you want to short weakness - short the NDX!

The DJIA intraday pattern from the recent bottom is very clear and appears to be in the latter part of a developing
Elliott five wave structure.

7/5/17 at 2:00 PM - ET the FOMC minutes are released.
It looks like the DJIA could rally and make a new high into the FOMC minutes.

If this happens Short NDX!
Short NDX!!
Short NDX!!!

The NDX made new lows in its decline off it's all time high today in a continuation pattern , breaking last weeks low at 5699 to close at 5696.

Move to new low on 7/3 was confirmed by NDX Bullish Percentage ($BPNDX ) which closed at 65, also a new low for this current move down.

I am noticing that NDX decline's are picking up in intensity at the end of each trading day, and closing near the lows of the day

which a tell tale sign of a STRONG continuing bear market move down !

Major NDX Weekly Support this week is at 5510, and if broken 5410, and then down to 5170

It will take a NDX Weekly Close above 5725 to reverse the current decline, and for any meaningful bottom to be been put in.

Extreme caution in NDX continues to be recommended.


markrivest The_Unwind
Hi @The_Unwind,

Thanks for the comment.

asmartdog The_Unwind
@The_Unwind, Great commentary, thanks
Hi Mark,

What implications do you think this may have on SPX? Thanks for the post.
markrivest TheSwinger
Hi @TheSwinger,

The SPX is likely to move up as a lesser degree than the DJIA.

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