When this happens we will revisit the 5000er levels (blue support line).
I expect the NASDAQ to rise up to the 9000er levels and then bounce of the fork.
When will it happen? We are good to go for the next 270 days with an gain of about 13% from today.
But then I expect a retracement of about 44%.
And this retracement I expect to take a long time (more than the last one from 2000-2002).
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What is the larger pattern here? So we are 5th of 3rd but what is the mega pattern? What spot are we in? Do you know? What's the chance this will retrace to 60%?
aamonkey
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@cyberluck, So this is the mega pattern, going so far in the future that we won't be on this planet anymore until this thing played out.
I think it is more likely that we will only retrace 40% until the 5000 mark where the 0.786 Fib and a very big emotional number (5000) come together.
Which build a HUGE support.
But on the other hand, I think it isn't that much more unlikely to have a 60% (or even a 70%) retracement.
So if we break through the 0.786 Fib the next support would be at the 60% retracement (or 4000 mark).
Again also a big psychological number.
And if we break through that we find our next support at 70% retracement (or 3000 mark).
(Again same as above)
I also see the retracement taking longer than the last time.
It could take like 10+ years (which I don't hope it will but it could)