Nasdaq Composite

Here is a weekly chart of the Nasdaq Composite index. I last commented on this chart here.

I think this average is headed for the 2650-2750 zone, about midway between the resistance lines defined by 1/2 of the all time high and 2 and 5/8 of the 2002 low.

Right now I think it is likely that when that zone is reached we shall see a reaction bigger than any visible on the chart above.