[ad_1]
\n<\/p>\n
It shows that price is the final arbiter, and the markets do not owe us anything, i.e., they do not have to reach ideal target zones, such a big miss is uncommon and troubling for this potential wave count.<\/p>\n
Besides, back in February we were humble enough to recognize that, while<\/p>\n
\u201cWe prefer to have a Bullish perspective until proven otherwise [, \u2026 which is a] break below \u2026. $21008 for starters, but ultimately, the January 13 low at $20538 remains the Bull-Bear line in the sand. If the market decides to move below these levels, our preferred EW count switches to our alternative, which has the more significant red W-iv become protracted and target $19930-20300 before the red W-v starts. But as stated, that\u2019s our alternative, our insurance, in case we are wrong<\/em>.\u201d<\/p>\n As such, the index is likely completing an irregular expanded flat in EWP terms: W>c>b>a. The ideal target is the 61.80% extension of red W-i, measured from red W-ii, at $19940, which the index is getting close to today, and coincidentally coincides with the black dotted parallel lower trendline. If the index can hold that level, especially the 50% Fib-extension at $19646, we can look forward to ideally the (red) 161.80% Fib-extension at $22434.<\/p>\n Lastly, sentiment has become highly bearish even though the index reached an all-time high just two weeks ago and has, so far, only lost 10% top-to-bottom. See Figure 2 below. This week\u2019s AAII\u2019s bearish sentiment remains unusually and historically high, which over its entire 38-year history, only happened during significant bear markets (1990, 2008, 2022).<\/p>\n<\/div>\n [ad_2]<\/p>\n","protected":false},"excerpt":{"rendered":" [ad_1] Figure 1. NDX daily chart with detailed Elliott Wave count and technical indicatorsIt shows that price is the final arbiter, and the markets do not owe us anything, i.e., they do not have to reach ideal target zones, such a big miss is uncommon and troubling for this potential wave count. Besides, back in February we were humble enough to recognize that, while \u201cWe prefer to have a Bullish perspective until proven otherwise [, \u2026 which is a] break below \u2026. $21008 for starters, but ultimately, the January 13 low at $20538 remains the Bull-Bear line in the sand. If the market decides to move below these levels, our preferred EW count switches to our alternative, which has the more significant red W-iv become protracted and target $19930-20300 before the red W-v starts. But as stated, that\u2019s our alternative, our insurance, in case we are wrong.\u201d As such, the index is likely completing an irregular expanded flat in EWP terms: W>c>b>a. The ideal target is the 61.80% extension of red W-i, measured from red W-ii, at $19940, which the index is getting close to today, and coincidentally coincides with the black dotted parallel lower trendline. If the index can hold that level, especially the 50% Fib-extension at $19646, we can look forward to ideally the (red) 161.80% Fib-extension at $22434. Why So Serious? Lastly, sentiment has become highly bearish even though the index reached an all-time high just two weeks ago and has, so far, only lost 10% top-to-bottom. See Figure 2 below. This week\u2019s AAII\u2019s bearish sentiment remains unusually and historically high, which over its entire 38-year history, only happened during significant bear markets (1990, 2008, 2022). [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":37770,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-37769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/37769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=37769"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/37769\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/37770"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=37769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=37769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=37769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Why So Serious?<\/h2>\n