Technically the triangle consolidation from second half of 2011 has been broken in the beginning of 2012, thus opening way for new bull
trend. According to technical pattern when break out occurs in triangle consolidation the subsequent rally should be equal to the triangle height, which in our case is 396.17 points - the correction started July 25th 2011. Given that and the triangle break point (2387) we could easy estimate NASDAQ target of the area around 2800
or some 8.15% up from current level.