
On October 7th, I highlighted a shooting star 💫 pattern on the Nasdaq. Since then, it has suffered an 8% loss. Today, I am zooming out to provide further clarity for those wanting real answers rather than distorted and conflicting views. When we bring the Composite and the NDX 100 side by side, we can see the power of correlation and confirmation. Both indexes are depicting and meeting the criteria of a classic double top. Not shown on the line chart is a 2% gap that sits 15% lower a major gap that, historically, is destined to be closed. There has never been a 2.2% gap on the weekly chart that has stayed open, and there likely never will be. The charts suggest this gap will close sooner rather than later. This week, the Nasdaq sits at critical support. A break below 28,900 on the NDX weekly close makes a gap close almost certain in the coming weeks. We are at a critical stage of the market cycle, and from what I am seeing, it isn't going to be pretty moving forward. Stay disciplined, vigilant, and most of all, informed. Yours truly, The Great Martis💫 She's beautiful.
