2022-06-26

Nasdaq Clears March 2021 Horizontal

An extended rally will chew into some of the topping patterns.
The biggest rally I expect this time is 25 percent in the Nasdaq. That would set up a massive H&S top. It would target 7708 on the Nasdaq, or a test of the March 2020 lows.
Not that different from my RTY WAG from a few weeks back.
It also happens to line up with a 50 percent retrace of the decline from the top.


If my WAG was correct, that would be a 45 percent decline from this current rally's peak.

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