Is the Naz ultimately falling to 9500?

Looking at the chart , it seems as if that’s where the naz wants to go ( 9500).
Any thoughts?

 

Look at this chart instead for a more complete picture. The white dashed line is THE MAGNET. It has corona in its charm too. And the 200-month ema. No way the Nas will not visit the 200-month ema.

 

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Exactly\ that's the right direction anyway\same with QQQ downtrend.
I did buy + sell[today] a small FNGU trade/ no way i even wanted anything but a small[counter-trend] trade. It's still going up, but counter trends spike so much/ that's life

 

I corrected your fib tool.

 

Check yours again .................


I just checked mine both in Think or Swim and in Metastock Professional.

We are talking about the Nasdaq Composite Index.


Here's the Metastock grid

 

For the Nasdaq to drop to 9500....WW3 would need to happen, or another Coronavirus that is 4X stronger and more contagious and evades everything completely.

But I don't claim to have a crystal ball that looks that far, I only have a crystal ball that works intraday.

 

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ITS strange\
sometimes super-strange, how the market turns on some of those lines.
MAYBe i should not even mention this,[bear rally] but UPRO just stalled a bit+ up-ticking @ 200 week moving average...........But in 2020\ it slammed well below 200 week moving average line.

 

Great thread.

 

When it slams below a 200-wk ema, be ready for a sling shot so intense ..........

 

OK, you're using a log scale chart rather than a linear chart. I never use those charts.