Nasdaq 100 Holds Steady at 3.94

The Nasdaq 100 numbers remained steady today, still most definitely in topping mode. The last ten market days, oldest to today's:



2.46, 2.13, 2.85, 2.89, 2.59, 3.78, 3.44, 4.02, 3.94, 3.94



And it crept up a little more today. Again, clear topping behavior. I can 100% guarantee you that we are at or near an important top. What will happen with my numbers at an important top is that the switch will be flipped, as I think of it. What I mean is, we will start down, and we will continue down until we reach whatever number it needs to reach, probably down 1.00 or into negative numbers. Obviously on the way down we will pass by the same numbers we passed by on the way up, such as numbers like 1.50, 2.50, or whatever. Before, those numbers enabled us to continue going up. Now, since the switch will have been flipped and we're going down, those same numbers will enable us to continue down. I hope that makes sense, but it probably doesn't.

Another thing I was wondering if it would happen here like it did at the top in 2007 is, in 2007 at the final high most of the market had its final high and started down while the Nasdaq 100, the traders' darling, continued up for maybe a week or a week and a half before it marked the beginning of the move down with a monster down day. While my gut feeling is we still have a week or two until the final top, that final top could be in the Nasdaq 100 alone, as I'll note that in the last three days, most of the market has been going down while the Nasdaq 100 has continued up each day to new highs for the year each day.

Again, we are at or within days of an important high. I can say that with absolute certainty. Whether it's the final high before a market collapse, I can't say. But it is a distinct possibility just because of where we are in the long-term picture.

Rob