Image Source: Pexels
 

In this week's podcast I discuss the Elliott Wave update for the Nasdaq 100, emphasizing that I am not bullish despite the final moves suggesting a more bullish picture. I discuss the difficulty investors face in preparing for a potential larger decline, which could return the market to the October 2022 lows. I explain my approach to counting waves and the challenges of applying Elliott Wave analysis to the Nasdaq due to limited historical data. I note that any decline could be supported by the tech sector, particularly in artificial intelligence, and suggest that the market may return to a similar area as identified by his analysis of other indices like the S&P 500.

I also discuss the U.S. debt situation, highlighting that the country has accumulated $38 trillion in debt, with Japan being the largest holder. I express concerns about the stability of the U.S. debt market and its potential impact on the economy. I also analyze the current state of the stock market, noting that retail investors have borrowed a record-breaking $1.23 trillion to buy stocks, which could lead to a market correction. I predict that the market could drop significantly, potentially by 9,000 points, and encourage investors to prepare for a potential market downturn. I also touch on geopolitical tensions, including the possibility of the U.S. sending an armada to Iran, which could further destabilize the market.

Video Length: 00:53:48

More By This Author: