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See attached. I found it interesting that this is the second time that NDX has
tested the current level (March 2001, late Feb 2002, and today, April 12,
2002). The recent two lows, have the look of a double bottom (in the 1340 area)
with the potential to bounce to about the 2000 level (+45%). On the downside,
the lows of Sept-2002 look like a reasonable downside projection in the 1100
area (-18%). I'd be interested in how you chart readers interpret this chart,
and what sort of projections you'd make from here?
PS: the lower diagonal line is trend line off the 1993-94 lows, showing that
the NDX could drop substantially, and still be in line with a longer term trend
line, of appreciation of about 11%/year.
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