Clear that the NASDAQ is struggling after such a massive rally. Doing a lot of small corrections. Looks like a possible small megaphone inside a larger megaphone. The current wave is also at its 1.6 level, so a correction should be expected. This would support my TA of S&P 500 and its bearish outlook for today.
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Its doing everything it can to prove me wrong. When it looks like it is going left, it tricks you and goes right. Maybe this is the bull's last stand? This large jump to 2.0 from 1.6 fib is also driving up the S&P 500.
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I sure got that wrong. New high, but the volume was very low. Easy to push price up when the volume is low. I am still bearish. Now waiting for the rug pull.
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FYI, this is deja vu from the S&P 500 on June 9/10. Just hovering around a high with FOMO at its peak. S&P just kept drifting up on low volume until double topped and then dropped 7%.
