NASDAQ 3 week forecast BRACE YOURSELF

The skies are getting dark, so watch your portfolio. I'm sure as you are a savvy investor that for the past several weeks you have been hearing the talking heads talking about the upcoming crash and how we are near a top. Well, not only is Elliot wave theory pointing this out, but the charting technical are catching the market starting to throw a red flag.

Before I go on, at this time I would say it is time to take a good hard look at your portfolio. Just as much as you would board up your windows on the east coast of Florida, is your portfolio at risk? How conservative/aggressive are your positions? To put it another way: if the drop happened in the next day or two then continued to tank for two weeks like 2008 how bad would things be for you? Would you just ride things down and watch your money go out the window?
If this is the case, I would pull things in a bit and sell stock that you cannot afford to lose. For example, if you have say 30,000 in Microsoft and you also have an addition you would like to put on your house for a new member of your family that is about to arrive, its time to liquidate the stock and do the room addition. Because there is not too much upward room at this time. Or, if you have 40,000 in Apple right now and you are hopeful for the future but you really are a bit short to send your 15 year old to college and are thinking of waiting 2 more years so you can have more for them, don't. Pull it now.
Hey, if Im wrong, Im wrong. At the least you are taking the money with 100% assurance and you will 100% chance have the money to do the room addition and 100% chance to have 40 large for Jr's college. But there are technical storm clouds on the horizon. Ill get to that later in this post with charts.
If there is things you really need the money for, use it.
Quick story: I have a friend who was up and down in the market and he was doing some high risk stuff. He would pump 30k up to 110k, lose half of it, throw a couple of chairs around in the basement while swearing, then get it back up to 110 grand again, and then down to 80k, etc. A lot of stress. In the middle of all of this he was putting a 100 thousand dollar addition to the back of his house, basement extended and everything. One night we were both standing on the newly built deck in the backyard and I mentioned to him that he now had 100 thousand dollars. Just sell your positions and viola, the whole addition to the house is paid for and its a 100% locked in win. If you are that good in the market, just start over with a few grand but whatever happens, this entire addition you have is totally paid for and you can rest easy. You know what? He took my advice. There is nothing like locked in gains where you can take a breathe easy with a sense of accomplishment and money in your pocket to direct wherever you like for yourself and your family.
Now, for what is on the way.

Lets Look at the Charts

Here is what the charts look like for the weekly QQQ (tradeable stock tied directly to the Nadaq) and things are not looking good with the RSI and the MACD both losing steam and momentum. Look at the tops of the RSI going down in decending order and the MACD sinewave losing peak and flattening out. Also if you look at the stock climb, you can see that the curve is starting to flatten out as well as the most recent candlestick showing a flattop cross, indicating that the market tried to push up but could not as it hit a wall with too many people selling.

The Weekly chart is a good way to look at the QQQ from a multi week perspective and forecast several weeks out. Its a wider lens. If one wants to forecast several days out instead of weekly, one looks at the daily QQQ chart as below:

In a smaller timeframe things do not look as bad as I still see some upward price action that will occur in the cubes, but things will not be pushing up as much. Observe the MACD is losing a bit of upward momentum and the RSI, or the top indicator looks like it peaked April 24th and has been slowly deflating from there. As a matter of fact, judging on the price/indicator action I expect in the short term the cubes having a hard time pushing 111, or just beyond it. 

If however there is an insane piece of good news, things will push beyond this. But everything remaining everything as things are now, this is whats going to happen.

So there you have it. Am I chicken little? Or do I have a point? Ultimately you be the judge. But I will leave you with a movie quote from the movie Darkman: "Paranoia is Total Awareness."
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