I'm going to have to think about that. Not sure. Can't I rest on my laurels?
My first random guess would be that, all through 2002, we have a lot of volatility, with no net upward movement in the Nas, ending at around 2000 (within 8 standard deviations).
stockcharts.com[h,a]dahlnymy[d19980901,20011210][pb50!b200!f][vc60]
The 9/01 and 10/98 Nas double bottom (1357 and 1387) forms very solid support, I doubt we take that out.
The 5/01 high (2328) is near the lows of 1/01, 2/99, and 3/99, and we might stall there. But resistance lines have been falling easily, and liquidity/momentum/hope could keep on doing that for an indefinite (but not infinite) time period. I doubt we reach the 5/00 lows, at 3042.
So, I'm predicting the Nas in a range of 1357 to 3042, which is a range so broad, it's useless. OK, I'll quit wasting bandwidth. Maybe I'll have something usefull to say later. Gotta go skiing. |
