JUNE 12 2002....
NDX pierce of sept 2001 bottom....
1089 bottom....hit 1079....now in a sucker run before other indexes follow....
this pierce was the first major blow by an index that will lead to the final leg of the retrace which started in march 2000 and projected bottom by following the dow 1929-1932 retrace is spring 2003.....
the final phase melts would look like this....using the may top and timeframe of 1748=1759....
nasdaq...
stockcharts.com[h,a]daclyiay[d19940612,19971014][pb9!b13!b20!h.02,.20!b200!b150!b50!f][vc60][iUb14!La8,17,9!Lh5,5!Le5,10,1!Li10,10!Lp14,3,3!Ll14!Lo15]&pref=G
ndx....
stockcharts.com[h,a]daclyiay[d19940612,19971014][pb9!b13!b20!h.02,.20!b200!b150!b50!f][vc60][iUb14!La8,17,9!Lh5,5!Le5,10,1!Li10,10!Lp14,3,3!Ll14!Lo15]&pref=G
spx....
stockcharts.com[h,a]daclyiay[d19940612,19971014][pb9!b13!b20!h.02,.20!b200!b150!b50!f][vc60][iUb14!La8,17,9!Lh5,5!Le5,10,1!Li10,10!Lp14,3,3!Ll14!Lo15]&pref=G
dow...
stockcharts.com[h,a]daclyiay[d19940612,19971014][pb9!b13!b20!h.02,.20!b200!b150!b50!f][vc60][iUb14!La8,17,9!Lh5,5!Le5,10,1!Li10,10!Lp14,3,3!Ll14!Lo15]&pref=G
anyway....the main retraces are the nasdaq and ndx...spx should follow close....dow is not really in the retrace but still has plenty of hurt coming...
i just made this post as an easy reference post to show later on as the meltdown waves unfold.....
lots of non believers out there.....and the ndx pierce today was your biggest warning shot yet.....
ignore it....or use it to your advantage down the road.... |
