NDAQ: 2019 RECESSION

I have been charting Nasdaq for some time now and based on recent movements in price, I am finally confident enough to post my prediction calling for a recession this year in 2019. The correction we saw in September to December of 2018 was our Wave A, of a three wave ABC correction. In the past few months we have been in the Wave B which often confuses many people into thinking bullish , and that the market has finished the correction and is going up to new highs. Sadly this is not the case, as can be seen with recent corrections in the past 3 days which happened right after hitting my price targets for Wave B, which confirms that we still do indeed have a Wave C down.

NDAQ hitting target for Wave B, immediately begins Wave C down:


I've also noticed a trend in our last recession in 2008 where the RSI hit 60 support levels at the top of the B Wave, before going back down to Wave C. I then decided to compare RSI in 2008, and RSI currently on weekly candles and we ended up being at the 60 resistance level as well, and at the top of Wave B, which also helps support my hypothesis of a Wave C down. In the following charts, take a look at the B Wave labeled in the RSI and how It matches with the B wave in the chart, also notice the 60 resistance level in RSI . Please also note that the Wave A in both charts and RSI at both timeframes will look different as the Wave A in 2007-2008 was made up of 5 sub waves, and the one that happened in 2018 was made up of 3 sub waves.

NDAQ 2007-2008, RSI and correction:


NDAQ 2018-2019, RSI and correction:


As any trader should, I have also looked at the bigger picture overall for NDAQ to reinforce my prediction. We are currently in a Wave 4 for NDAQ overall, where as the 2008 financial crisis was the 1st Wave.

NDAQ the bigger picture:



Disclaimer: This is my prediction and I am posting for educational purposes only.