Charts for possible Nasdaq bottom/testing scenarios:
Candlesticks possibly pointing to bottom at/near 100% retracement of '99 - '00 bull move:
home.pacbell.net
Alternative speculative testing scenarios (based on absolute highs/lows, shared anchors for retracements, trendlines, support/resistance):
home.pacbell.net
Simple chart of major trend-line and retracement levels for '90s Bull Market, anchored at same beginning point (for reference):
home.pacbell.net
Monthly chart, major support at 61.8% retracement of secular bull market in techs ('82 - '01), intersection with '90 - '01 trendline (pretty, simple chart, posted earlier in support of Zeev scenario):
home.pacbell.net
How NOT to interpret my charts:
In my opinion it's an art, not a science - no use in pretending otherwise.
I do not believe there is or can be one and only one clear, perfect, exact, and correct way to draw a trendline - except in retrospect.
Ruptures of trend-lines and support levels do not necessarily call for diametrical reversals.
Broken support or resistance can be re-mounted. Major ruptures are usually receive dramatic confirmation in fairly short order.
The longer the timescale, the less impact on the final results from minor adjustments (e.g., using '90 low instead of '91 reaction on major tech bull trendline). |
