NASDAQ Topping ... IMMINENT COLLAPSE Ahead! | Jeffrey Huge, CMT | Your Daily Five (05.25.23)

Jeff is back to share what he sees as the impending collapse of NASDAQ. He shows the bearish conditions that historically precede major trend reversals, and highlights the four stages of a bubble. Caveat Emptor! The "Mania Phase" has ended, and the "Return to Normal" point is now at hand.

00:00 Intro
01:49 Intermarket Non-Confirmations Abound
04:10 Nasdaq Composite Internally Weak
05:39 NDX 2000 vs. 2023
08:48 The Four Stages Of A Bubble
11:18 Preferred Elliott Wave Count

Connect With Jeffrey
LinkedIn: Jeffrey W. Huge, CMT

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[aknevv]

An Elliott Wave was something my great-grandmother used to pay for at the hairdresser

[alextsukanov]

To be fair, this guy has been calling for imminent collapse since 2022 lows...

[SS-qbye]

He was Bearish in January, Feb, March, April and now in May and warning for June, July! LOL!!!

[gheadwind]

Jeff, I just commented on your last presentation and here you are again! this time you made sure you posted your permabear thoughts right in the rally (I guess just to make sure your imminent collapse would at least have somewhat of a timing with the market correction (should see a healthy pullback when market is overextended)! Honesty, your conviction is something else! Good luck and cover sooner rather than later!!

[eminalopatyuk]

I have respect to Jeff for his courage and consistency on warnings for the market top for a few months. He might be right with his predictions based on Elliot Wave theory and technical analysis. Unfortunately he has been fighting the Feds and this game is taking more time that it should be. Thank you for your work and warnings, Jeff

[youtubeidentity]

I'm in the same camp as you are Jeff. Thank you for the affirmation.

[jobear]

how can one guy be consistently wrong month after month with such conviction? CMT is as good as road side psychic

[jorgegrande]

I respect Jeff's analytical skills and courage to take an unpopular stand. Most stock charts contributors and I follow just about all of them don't have the level of courage to make a call and stick by it like he has. I have been following him for maybe a year now. Anyway, he has been consistently calling a market top for at least 6 months claiming we are going to drop at any moment. Could happen tomorrow, but hasn't happened yet. Also, I think he puts way too much faith in his Elliot wave theory application. Just hasn't worked out like he said it would. Of course anything is possible.

[GiuseppeMessinaCFA]

Excellent, objective and professional analysis. Thank you Jeff

[isdept]

As of 2PM today, there's only another 1% to go - to the "You Are Here" topping position - before the elevator down (Capitulation) phase. Fasten your seat belts because the Infantry has started to retreat.

[auridiamondiferous]

The market looks weak overall. $SPX has been sort of ok, but if you look equal weighted $SPXEW the market looks much weaker. SP been going up only because of few megacaps. Also bullish percent is topping again, $BPSPX. Also the BPSPX has seen lower highs for months. Also the uplegs in SPX has been smaller and smaller for months, since last bottom.

[tonyb]

Alot of stats say higher we go 9 out of 10 times on spy

[RaymondSie]

Jeff is super bearish while Tom Bowley is super bullish...and both are here on StockCharts... What the heck is going on? 😂

[worldjetty]

We just hit the 61.8% retracement (from ATH to the Oct '22 lows) on the Nasdaq using log scale. Internals look weak, breadth is terrible, macro picture doesn't look too bright. I'm getting extremely conservative in my accounts. It wouldn't surprise me to see AI speculation push QQQ to 350, but I won't be playing for it. It's too risky for my taste. Also won't be shorting, however, until we get some momentum to the downside.

[cesare]

Fair play for sticking to your guns. Everyone else is bullish. I just can't see how we go up when you have crazy bubbles like NVDA making euphoric moves like today

[robchen]

serious question: how many subscribers do you have? at this point it must be in the single digits as most of them have missed out on 50% of gains since you started posting about a market collapse back in 2021

[bnato]

Terminal Point? Can I get some additional confirmation before I load NQ shorts?

[leesin]

Looks like Jeffrey has been calling for a crash for months 😢 how can you trust a broken clock

[elkabong]

Fear sells! I remember a show on Wall Street Week in the 90s where Lou Rukeyser signed off with some sage advice. He said " If you have a son or daughter who is graduating college soon with no particular skill, have them become an economic pessimist. If they are right, they are a guru. If they are wrong, nobody cares because they are making money." Your curve-fitted charts are way off on timeframes.

[ramadasa]

🙏👍🤗 thank you! Appreciate all viewpoints!! EW is another tool, no tool is perfect all the time. And, thank you for including the price action LEVEL which negates the EW pattern. Better to know what COULD happen instead of being surprised when/if the pattern DOES play out.