NASDAQ View

Nasdaq,with yesterdays high of 12,855 may have completed a very important (HARMONIC PATTERN), But to call it a top, need to wait for certain levels to break
Structurally entire rally from june lows seems only a counter trend bounce
Many have called recent rally, a start of a new (BULL MARKET) But that may not be a case
Coming weeks should make things clear
As far as sentiments and narrative are conserned, that would just take couple of days to change from bullish to bearish
A 5% drop in markets would make majority uncomfortable, and traders would then expect june lows to break
That’s the way people use to trade 100 years back still today, and after 100 years also people would be having same approach
Coming back to NASDAQ, a break of 12,080 to 12,280 would trigger a multi-pattern breakdown
Once this activates downside Targets would be, 11,550 and 10,800
It would certainly break june lows below 10,800
And would take it from there
TIME CYCLES Remains bearish
So that would Sponcer the decline