The Nasdaq 100 index is leading the market lower, although there is not yet a sign of an across the board carnage. Buying opportunity? Look at the FB chart below. Would you buy this stock? In the dot.com crash of 2000 Nasdaq fell an astounding 80% while the Dow and S&P followed with 50% declines. The market is far way from those kinds of numbers, but ominous fundamental and technical conditions are in place for something larger on the downside than we have seen in the past two days. As I wrote this weekend, our trading methodology won't catch the top, nor will it be very far behind. A nasty looking chart And it's not just Facebook Wave 5 Buy Signal - Target Previous Wave 4 Top @ 14.00
