NDX monthly showing a repeating pattern from 1998-2000 since 2004. The resulting move up should be significantly weaker than in 1999-2000, but the pattern is playing out in a very similar fashion. Note the long range-bound consolidation in late 1998 and early 1999. That's what we're into right now, IMO. The red candle from Feb. 1999 is likely going to be the combined result of Dec. 2006 and Jan. 2007.
The candles from April-July 1999 represent the consolidation I anticipated after reaching 1960 NDX in late spring 2007.
I believe this is the pattern that freaked out Max, and it's a scary pattern if you are short. However, I think our rise will lack the parabolic aspect of 1999, limiting the NDX to 2074 or possibly 2250 if things really get out of hand.
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