Friday, 10 October 2014
Nasdaq to drop back from outer space
Nasdaq 100 has a tendency to take wonderful flights into outer space, but ultimately to be brought back to earth. I venture that the orange-tinted polygon represents its natural range. The blue triangle depicts the amazing surge in the late 90s and its collapse right back to ground zero between 2000 and 2003. The green polygon represents the top portion of its present flight into outer space. Its emerging downtrend could be quite as dramatic a plunge as happened in 2000. There are two major spots of resistance on the way.