On a day when the Nasdaq and the Dow tumbled along with the U.S. dollar and Treasuries, is this major market about to crash?
Tech tock…Tech tock…
(King World News) – From top Citi analyst Tom Fitzpatrick: The technical picture on the NDX (Nasdaq 100) is looking increasingly precarious in the short term. This continues to suggest a double digit percentage move down from the highs looks likely.
A break below these supports would suggest the potential for high to low losses in the region of 9% to 12%….
A similar dynamic exists on the NASDAQ composite.
1987 Stock Market Crash vs NDX Today
This overlay would yet again suggest levels down towards and possibly below 5,000 could be seen in the weeks ahead…..more here