The Chart du Jour

CAC-40: A Near Perfect Picture for a Top

March 4, 2000

The Nasdaq 100 reached and marginally surpassed our 4390 target Friday, but we are encouraged that the high close Friday could well reverse come Monday morning given the look of the daily CAC-40 chart above. The Fibonacci rhythm and Elliott wave count on this chart are near picture perfect for a top to form right here and now. The weekly chart of the CAC pictured below suggests that an intra-week overshoot to 6,667 might be possible, but we think that all the major equity markets are about to do something that will be considered strange and alien to most participants: stop going up and start to drop in an entropic fashion. Perhaps there will be some news event associated with this, perhaps not. But with a count like the one above, don't linger long by the exit door.


We recently finished an in-depth analysis of the longer term risks to equities that is eight pages in length and examines the Elliott wave pattern of the Nasdaq's Price-Earnings Ratio since 1995, as well as various analog pattern matches involving the Nasdaq. The report looks at mutual fund cash levels, mutual fund positioning, and changes in the monetary base. It sketches out a possible path for the Nasdaq that may prove a valuable "roadmap" for trading over the balance of the year. The article offers some powerful evidence that a crash scenario is most certainly possible and perhaps closer than most realize. The article is available for purchase below via credit card at $25. One may also subscribe on a quarterly basis to ALL articles past and present for just $65.


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Order our other article as well, and get a 20% discount on both.

  • A Certain Fixation, March 2000...Available for Purchase at $25

  • Nasdaq Crash and Stopping Point?...February, 2000...Available for Purchase at $25

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