The markets rose from the last years covid fall almost without a break. Almost all indices are above the last years high just before the covid fall. It has been my contention that all markets will fall almost in tandem as the world economy is more synchronised than ever.
I had mentioned weakness in Dow Jones earlier. However Nasdaq showed strength where the world markets were almost tethering on the cliff. This anomaly was not comprehensible though there was a view that Nasdaq can move up independently of others as TECH has a niche in the current scenario.
Recently Nasdaq has fallen below a very important support zone, changing the wave count to net bearish. Wave analysis is all about range of possibilities and now the bearish possibility takes precedence over others.
The fall in all indices may not occur at the same rate. Some may fall at a lesser speed than others. There will be major pullbacks upwards from time to time giving a zigzag pattern on the journey downwards.
In the Indian markets some select stocks will continue to do well specially the metal sector (though it is nearing a INTERMEDIATE correction level now.
The Indian markets will not fall in one go but will ratchet its way down