How Steve Miller’s view on $NDX changed

This is different from what we see when we look at the Nasdaq index, which I will show you in a few moments. So, what we are seeing here are conditions of declining momentum. When I look here at the Nasdaq NDX index, what we have is truly a rare case .

When I say that, I am specifically referring to our momentum indicator, the "reversal detector". What we have is a lack of confirmation that has not been present on this chart for 20 years.

When I look at it, and try to analyze it more deeply, I find that this fracture was quite sharp, just as you can see here. Then the Nasdaq index experienced a good correction. And then it started climbing again very quickly .

What this tells me is that this rare lack of certainty could mean that this was a false breakthrough.

Let's take a look at the Nasdaq and X indices. I've gone on a bit too long, so I'll leave the VIX volatility index to our members. I have put up an updated chart for the VIX index there for you .

As you can see, there are multiple sell signals on the NDX index.

The question now is whether this could be an early bottom, with the stock market hitting its lowest point at the bottom of the range, or whether we might see another significant decline here.

There is a lot of conflicting information, and that is why we are in a fluctuating range with a correction that cannot go very deep at all . I had predicted the biggest drop of around 7.3%, and now I have adjusted that based on what I see.