Saturday, August 3, 2013

Nasdaq Composite - Multi-year bearish set-up

Major market turns have in the past happened in the oblivious state of summer heats:

August 1921
July 1932
June 1949
August 1982

The Nasdaq Composite chart below, or better, the way I look at it, suggests to me that there is a distinct bearish scenario that has reached or it's about to reach its multi-year gestation.

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