It took the Nasdaq 100 almost 10 years to “recoup half of the declines” that took place between 2000 and 2002!  As the NDX 100 was hitting its 50% retracement level, it was also hitting the top of its 10-year trading range.

The NDX 100 has declined around 8% since hitting this key level at the end of the first quarter. It has made a series of lower highs and not been able to break above a couple of resistance lines.

Should the NDX 100 break below rising support line (3), its performance could become quite cold and impact other key markets….keep a close eye on this pattern and how the NDX 100 performs in the upcoming few weeks!

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past