The seasonal bearish period for stocks is from May to October. The Nasdaq 100 and Nasdaq Composite have continued to make rally highs but the S&P 500 and Dow Jones Industrial Average have not. This is a very broad based bearish divergence.
Focusing just on the NDQ shows it has bearish divergences on the RSI, MACD, and KST.
NDQ has reached a top zone illustrated in a prior post.
Elliott wave pattern suggests a Double Zigzag rally could be complete or near completion.
NDQ and the entire U.S. stock market could be on the verge of a decline back to the October 2022 bottom.
Focusing just on the NDQ shows it has bearish divergences on the RSI, MACD, and KST.
NDQ has reached a top zone illustrated in a prior post.
Elliott wave pattern suggests a Double Zigzag rally could be complete or near completion.
NDQ and the entire U.S. stock market could be on the verge of a decline back to the October 2022 bottom.
