Today 1/13/17 the NDX may have completed an Elliott Wave - Ending Diagonal Triangle from the 11/4/16 bottom.
See "Elliott Wave Principle" pages 36-39.
If complete there could be a very sharp decline back to the point of origin at the 11/4/16 bottom.
Based upon the two months and one week rally from 11/4/16, a decline could be complete in two to three weeks.
Note the bearish RSI divergence from the August peak and the small bearish divergence that occurred this week.
Mark
See "Elliott Wave Principle" pages 36-39.
If complete there could be a very sharp decline back to the point of origin at the 11/4/16 bottom.
Based upon the two months and one week rally from 11/4/16, a decline could be complete in two to three weeks.
Note the bearish RSI divergence from the August peak and the small bearish divergence that occurred this week.
Mark