Nasdaq Composite Near A Short-Term Top Around 5065-5090 Points

١٩ يوليو ٢٠١٦

We are near the peak of bullish excitement. My original idea I published as a chart 7 days ago is starting to get confirmed. Now if the Nasdaq Composite behaves somewhat similar how the S&P 500 currently does, then the Nasdaq Composite is near a short trend change, but overall the long-term uptrend is still strong. Which is why I show two scenarios:

Scenario A "brief dip"

• Short entry: 5090
  
• Target: 4960
  

Scenario B "deep decline"

• Short entry: 5030
  
• Target: 4860