There appears to be some unfinished business in the NDX. It appears that the Cycle Top may be challenged yet one more time before reversing down. From there, it should sync up with the SPX in their declines.

Wave 5 = 1 and [v] = [i] at 4903.00 or slightly higher, but Cycle Top resistance is strong. In addition, Wave (C) equals Wave (A) at 4865, so the Wave relationships may limit the upside. Whether it goes all the way is to be determined, but it appears that NDX will be having an influence on the markets until it is finished.

Regards,

Tony

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