It appears that a "head and shoulders" top has occurred over the last 8 months. It is quite symmetric and the most recent wave up is a beautiful "ending diagonal". If this ending diagonal is the C wave of a flat correction then the next few months will be a very strong move downward. I am 85% confident that this is the correct elliott wave analysis. Only a strong move above 47 in QQQQ would negate this analysis. In the very short term (hours to days), expect QQQQ to go up to 46.25 area before falling hard. Most indices and sectors will join the Nasdaq in this bear market. Do your own due diligence. If you don't find any compelling reasons to stay in the market, then sell your equities and don't expect a significant bottom for a couple of years at least. On my last post I mentioned that BA would go to 71.50 range before turning down. It didn't make it that high and mostly likely will not.
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