Domed House Update (12/11/2016)

Recent activity on the NASDAQ-100 provides further evidence that the index is in a Three Peaks and a Domed House pattern. ndx-tpdh-dec-11-2016

We have now had two successful retests of the pre-election low (Pts 12 and 14 on the chart). It looks like the NDX is on track to hit the top of the pattern in late-February. That top would be followed by a return to the Nov. 2016 low, which would probably involve a drop of at least 10%.

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