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Long term Nasdaq prediction chart

The chart below, which I made last year, was first published on the msn.com site in November 2000.
At that time the prediction made in this chart was met with disbelief.

As you can see the Nasdaq market has been moving up in a beautiful trend channel since 1973.
In 1997 - 1998 the market broke out of this trend channel to the upside, creating a big blowoff top in early 2000.
Knowing that 2 Metal years were coming, we predicted that the Nasdaq would fall back into the old trendchannel.
Projected targets were around 2000, 1500 or 1000 (see 3 small cirles in the chart) by early 2001, and a final low near the lower end of the trend channel around 1200 (see bigger circle in the chart) by early 2002.

This chart is very useful to keep a good long term perspective on the market.


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