A Structural Comment on the $NDX

As I have the $NDX labelled here, I see the potential for an excellent example of alternation. If the low is in here (as I suspect it may be), then we may be able to interpret it as an expanded flat for minor (green) 4, which would tie in nicely with minor (green) 2, which was a clear zig zag.

We reached the lowest GEX print in its recorded history yesterday, which is probably an insanely bullish metric.

If it seems ridiculous that I keep looking up, please forgive me. I believe we remain firmly within a bull market and the surprises, in the long run, will be to the upside, not to the downside.

(Speaking of which, and speaking of alternation as well: since we had a “flat” for intermediate [orange) 2 over there on the left, guess…you guessed right: we should have a zigzag for the orange 4 off to the right; that’s going to feel like a crash and should be plenty of fun to play.)

NDX


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