Friday, October 05, 2007

Nasdaq Composite

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

The Nasdaq has established new bull market highs and I think it will continue up at least to the 2900 level. This is the 2 5/8 multiple of the 1108 low as well as the 1 / 2 division point of a 338 point box (the length of the July-August drop) stacked on top of the 2734 top in July.

Whether or not the 2900 level will mark the end of the bull market remains to be seen, but I think this is more likely to be true than not.


Anonymous said...


if you are expecting s&p to go to 1780 ,then how can you only have 2900 as target on the NASDAQ? thanks

also, at what point on S&P do you expect a nice pullback?

Anonymous said...

End of the bull market when COMP reaches 2900?

I agree there should be a significant reaction at that point, but COMP should at least reach 3110 by the end of next year.

Anonymous said...

Can you update your Lindsay's 3 peaks and doomed house pattern please?