NASDAQ March 2000 vs January 2021 - Touching dot com resistance
Updated
Using same analysis that I did for the 1982 channel and trend lines for the S&P. The trend lines directly correspond to key highs and lows of the dot com bubble when using this one trend line slope.
Note we are just 3% short of the dot com bubble top channel.
The top in 2000. FYI the main (FOMO or greater fool's) rally of the dot com bubble only lasted 5 months from Oct 18, 1999 until March 24, 2000.
The support line that defines the slope of the trend lines.
Monthly time frame and RSI
Note we are just 3% short of the dot com bubble top channel.
The top in 2000. FYI the main (FOMO or greater fool's) rally of the dot com bubble only lasted 5 months from Oct 18, 1999 until March 24, 2000.
The support line that defines the slope of the trend lines.
Monthly time frame and RSI
Comment
Update on Wednesday 1/20/21. Big gap up above the major resistance.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.