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Monday, February 6, 2023

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The Nasdaq 100 Twelve Years After the Tech Bubble

Courtesy of Doug Short.

Post bubbles can be painful! The Nasdaq 100 (NDX) hit its all-time high back in 2000, yet 12 years later this key tech index has been unable to rally above its 38% Fibonacci retracement level.

For the past year the NDX has attempted to break this resistance, only to be held in check. Now the NDX is within 3% of the highest weekly closing price of the past year and back at Fibonacci resistance.

Can this index do something different this time around and break resistance? Stay tuned!


 

 

 

(c) Kimble Charting Solutions
blog.kimblechartingsolutions.com

 

 

 

 

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