Friday, October 25, 2013

NASDAQ 5000?

On March 9,2000 the NASDAQ closed over the 5,000 mark for the first time ever. The NASDAQ ended with its 15th record close that year, up 150.22 points to 5,047.39. Its low was on October 9, 2002 at 1,114.11---a 3944 point range between high and low.  Currently the NASDAQ is at 3928, a 71% retracement.  Historically, once an index retraces more than 68% of a move, it ends up retracing 100% of the move in the future. That could mean the NASDAQ reaching 5000, perhaps by mid 2015.