The Nasdaq Composite (COMPQ) made a 720 degree move from March to June (two complete 360 degree cycles). Price has retraced all but 90 degrees of this move.
The NDX has not retraced as much as the COMPQ. The move from March to June was 810 degrees (720+90). The current move down has moved 540 degrees (360+180).
Post Modified: July 15th, 2008 at 11:30 pm
Tags: Nasdaq Charts · Square of 93 Comments
3 responses so far ↓
this could be the bottom…. maybe people were waiting for the stupid vix to hit 30 before buying….? lets hope so, i need to make up for some past mistakes
Kinda funny that the “sentiment” indicator, which is supposed to signal fear, is actually signaling no fear as everyone in the world is watching it and waiting to buy when it hits some level. LOL!
well, isn’t warren buffet the one who said: you got to buy when you see the whites of the other people’s eyes?…i guess everyone looks at the VIX, thinking once it hits 30, then they can see plenty of white…