NASDAQ 100 Shows Negative Divergence after Parabolic Move

Nasdaq 100 is setting up nicely for a shorting opportunity on traditional technical analysis.  RSI is now diverging with price action after having been over bought for several weeks prior.  However, MACD is showing its highest high on this chart, which is more indicative of a wave 3 peak rather than a wave 5 peak, unless the wave 5 peak is an extended 5th.  Wave 5's usually are diverging with their prior wave 3 extreme.

S&P 500 chart using Elliott Wave via Refined Elliott Trader software

S&P 500 Chart using Elliott Wave Principle via Refined Elliott Trader software.

Refined Elliott Trader (RET) chart of Nasdaq 100 Index

Elliott Wave Trader software chart of Nasdaq 100 Index shows more room to the upside before a crash will ensue.  Expecting a pullback to complete Primary 3 and subsequently Primary 4, before the final ascent of Primary 5th which then will mark the end of Cycle wave c and Supercycle wave (b).  This stands in contrast to the S & P 500 analysis that shows the Supercycle (dz) as already completed.  The Nazdaq is not far behind.  Its final waves should play out rather quickly.

S & P 500 Prepares To Crash As Primary Wave 3 Begins

S&P 500 sharp corrective Primary wave 2 rally is over.

S&P 500 ready to head south in a wave 3

S&P 500 ready to show its hand when it dramatically turns south and spins heads in a powerful wave 3 to the downside.  This should commence within the next day or two.  Fasten your seatbelts and place all trays in the upright position, we are out of fuel and heading in for a crash landing!