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!
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