NASDAQ update

I redid my NASDAQ chart at the request of a friend .. the other night, when I posted it, I just drew the “AB=CD” and figured I would tighten it up over the weekend …I did tighten up the target w/ some more precision.

the AB=CD has been hit.

how did we get this target?

  1. from the low in 2002 we label A. The most recent 2020 highs are B and then C is the low after that pretty quick drop (note, it was one of the fastest percentage moves drop in history) from there we can calculate the AB=CD target. Appears to have been hit ..
  2. from the all low on 10/03/74 we draw the radius of the circle all the way to 2000 .. that’s a BIG rock hitting the water, isn’t it?
  3. from there we draw our circle … once we have the circle we can create the square based on said radius and that is bolded in BLUE.
  4. speed or fan lines originating from the all time low and being based on the geometry of the first impulse move are pretty powerful. as you can see I divided the length of the square into the usual ratio’s and then drew the fan lines from the all time low … take a look at the result.
  5. there is a lot going on w/ these lines and there is a lot more geometry that can be drawn but I don’t want to clog up the chart.

so, net net, pay close attention to the NASDAQ in/around here, fer shure … if the AB=CD pattern fails to the upside there are other targets that I’ll update but for now, this looks like something that we should REALLY pay attention to …

NASDAQ – heads up, big target hit UPDATE – Island Reversal Present on Daily

03/20/2018 – heads up, sure looks like an island reversal present on the NASDAQ monthly.

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not only do we have the 1.618 extension from 2000-2002 being hit but we also have a 1.27 AB=CD from the all time low and a 3.618 WX=YZ all being hit today. this ‘should’ be pretty significant resistance.

a word to the wise is sufficient …

Bart