Did the NASDAQ 100 Top in March?

Stocks Analysis by Dr. Arnout ter Schure covering: . Read Dr. Arnout ter Schure 's latest article on Investing.com

from late March, we assessed where the NASDAQ 100 could ideally top using the Elliott Wave Principle , and we postulated back then:

Fast-forward: The index peaked at $18464 on March 21, which is only 0.81% below the ideal target of ~$18615 and has declined since. The index has now broken below two of the four colored warning levels for the Bulls we had identified , as it is currently trading at $17980. However, in a five-wave ending diagonal, the wave structure is most often a 3-3-3-3-3 count as all five of the waves of an ending diagonal break down to only three waves each, indicating exhaustion of the trend. Also, Wave 3 is not the shortest, and Wave 1 and Wave 4 may overlap. Most ending diagonals have a wedge shape where they fit within two converging lines.

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