Best Financial Markets Analysis Article NDX has crossed its Crash Trigger at 2760 and is about to exceed its prior low. That means the crash or panic starts here with the NDX. The bears have been so beaten up that there aren’t any left, well, hardly anyone. Everyone has a bullish count for the market but virtually no one is aware of the implications of the Broadening Formations. Well, this one is triggered.

The SPX just triggered a double Broadening Formation which suggests we don’t have to wait for the next formation at 1395.00. If anything, there still might be a bounce just beneath that level, but I wouldn’t count on it. The 50-day moving Average is at 1433.23, which is where many traders may change from long to short, so that may be the next level of testing for the SPX. Don’t count on it holding.

GLD may begin its free-fall very soon, since its 50-day moving average is just off the bottom of the chart at 166.43. The Cycle Bottom is no longer providing support, but giving way as well. Things could get ugly very soon.

Regards,

Tony

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Disclaimer: The content in this article is written for educational and informational purposes only. There is no offer or recommendation to buy or sell any security and no information contained here should be interpreted or construed as investment advice. Do you own due diligence as the information in this article is the opinion of Anthony M. Cherniawski and subject to change without notice.

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