Near the bottom of the market last year some of my analysis pointed towards the Nasdaq 100 going into a bubble. As you can see from the first fractal below we are tracking very accurately. I have re-scaled the fractal to fit slightly better. I also have been seeing many similarities to the 2009 bottom as well, in looking at that fractal it also seems to have some strong similarities. additionally this fractal lines up with the same stage we are in my MMTH analysis. In the 1998-2000 case in this stage of the market the 100dma was tested multiple times which are currently testing, additionally during that time the market traded in a sideways channel parallel to the 100dma. In my sector rotational analysis we also have very similar sector rotations with Nasdaq 100, industrial's, financials, and transports. This combination of factors leads me to believe we will be following this choppy upwards trend.
Comment:
playing out as expected. We may be entering the final strong upmove now.