NASDAQ March 2000 vs January 2021 - Touching dot com resistance
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
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Update on Wednesday 1/20/21. Big gap up above the major resistance.
