Nasdaq 100 due for correction

Nasdaq 100 correction ahead

The Nasdaq 100 has gone from 1040 to over 3600 since 3/09, just less than 5 years. Looking at the monthly chart, the ADX shows it’s in dangerous territory, overbought and due for a correction. But before taking profits or shorting I would be looking for the ADX to cut down from this level, the ergodic to crossover down, and the orange ball to be taken out with a monthly close below 3300 signaling the correction is in play. Target range 2000-2500.

Nasdaq 100 correction ahead


Author: Geoff

Quick rundown: Grew up in Lombard, Illinois, went to Arizona State University, worked as a CPA with Arthur Andersen & Co, then Laventhal and Horwath, then Rolling Stones, then Heron International, then Goodby Berlin and Silverstein in San Francisco. Moved to the foothills in 1990 and traded futures and designed websites. Married to Kate Stewart, now living in Colfax, CA. We have six grandchildren. I enjoy camping in our RV, hiking, kayaking, fishing, droning and cross country skiing Also conga drumming, photography and dogs.

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