The 1938 rally was a 62.61% retracement of the bear or 0.21 of an index point off an exact 5/8 retracement.
5/8th of the bear for the NASDAQ is 2264, 184 points away from Friday's close. That is easily within reach with another month of rally at high speed even allowing for a decent pullback.
That's the upper range of McLaren's current projection.
5/8th of the bear for the S&P and Dow are too far away to entertain atm imo.
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Last
8,580.1 |
Change
-9.100(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.2 | 8,619.8 | 8,568.2 |
| XJO (ASX) Chart |