Unstoppable Nasdaq
The Nasdaq Composite Index – COMPQ and Nasdaq 100 Index – NDX have been on a roll of late, making new rally highs on almost a daily basis. Unlike the Dow and S&P 500 stocks which are now above their March 2000 highs, the Nasdaq has not yet reached even the 50% retracement level for its old rally highs.
Look for the rally in the Nasdaq Composite to reach 3110 (+ 17%) and the Nasdaq 100 to reach 2805 (+ 42%), though not in a straight line of course, before this advance ends. These levels are the 50% retracement for the entire 2000-2002 bear market decline.
The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy holds positions in index funds, ETFs and stocks that meet trending and liquidity requirements.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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Disclaimer: The financial markets are risky. Investing is risky. Past performance
does not guarantee future performance. The foregoing has been prepared solely
for informational purposes and is not a solicitation, or an offer to buy or sell
any security. Opinions are based on historical research and data believed reliable,
but there is no guarantee that future results will be profitable. |
