FIB Retracements of Previous Levels (Christmas '18, COVID, Etc.)

A .786 Fib-Retracement of the COVID Low to ATH takes us to roughly ~8900 on the $NQ, roughly another 20% from today's levels (~11000) and a total of an over 53% fall from an ATH (~16700)

I'd call this "brutal" if there wasn't a precedent in the tech. bubble:

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By the end of 2000, it looked very much like the NASDAQ bubble had deflated. The index was back to 2500 (July 1999 levels), down 51 percent from the March highs.
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Peak to trough, the NASDAQ fell 78 percent over 19 months, from March 2000 to October 2002.
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Souce: www.datatrekresearch...aq-2000-bubble-comp/

Weekly RSI oversold and MFI could lead to bounces in the interim.

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Observation from someone I follow this week -we're back to levels from May & June of this year- ~6 months, when you watch the market it feels much longer 🙄 What is even more shocking is reflecting on the fact that we're back to levels of Early August '20, a bit over 2-years

Not to self: target line is NOT a long-term buying opportunity - macro-conditions and central bank policy if/when we reach that level are much more important to consider!