Will History Repeat itself ? ( NASDAQ Analysis)

INDEX:IUXX   Nasdaq 100 Index
283 7 0
I was reading an article this morning, and the author posted a very interesting chart. We can see that the NASDAQ is currently at a key resistance line. the past two time it reached that level, we had a recession and financial crisis. So here we are again, will history repeat itself ? the author thinks so. Comment are very welcome
The markets have been up 16 % or so , since mid- December , so most traders will take some profit right now. But if this rally is real , and if Benny Boy ( Bernake) announces QE3, there could be a significant upward move. Only time will tell
Sometimes the market is really clear, like when the lights turn on in a darkened room. Then there are other times when things get fuzzy, or really fuzzy. What I find happens at the end of earnings season is that the market just sets there waiting for something to happen. I'm not big on this "trendline" you show because I don't think it is shaping popular opinion. I do think that people have lost their minds with the price of Apple stock - and that is driving a huge chunk of the rally in the nasdaq. Think about $500 billion dollars of market cap to a world of 6 billion people... it's almost $100 in value per person in the world. Who knows how this uptrend in Apple will end, but that is the question to ponder.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out