Nasdaq topped on Apr 7th, 2003

Some of you will recall that I posted a message on this forum on October 8th, 2002, saying the market had bottomed and a new bull market had started: http://www.elitetrader.com/vb/showthread.php?s=&threadid=9649

For the record, it's my opinion that the Nasdaq topped out at 1430 on Monday, and it will not break that high until it crashes through 1108 later this year ...

The Nasdaq Market has topped, and a new bear market is already upon us. The Nasdaq will not see 1430 again for a long long time.

 

Well, you are certainly entitled to your opinion.

 

OOOOO, I love these kind of discussions!!

What evidence do you have that the Nasdaq has topped?

 

interesting, any reason why you hold this opinion?

 

I agree it's a significant high (several months), wouldn't go so far as to call it the start of the new bear market though.

 

trendline broken

 

You did make a great call in october.
but im not so sure about the current one

in the last 2 trading days...
Retail sales and confidence ....ok to fine
Banks today....ok to good
IBM today.......ok to good
even a tech bellwether NVLS.....ok

There might have been a fair amount of fear as earnings approached, but if the news stays this way, were going alot higher...real soon

 

Gutsy call so early. I look forward to the follow-up.

 

990 maybe?

 

the nasdaq will surpass the april 7th highs by the end of the year.

best,

surfer