I am not using normal fibs which work well in stable indices, but looking at historical area of support and resistance makes a lot of sense. Mind you, by December 2000 (and more so by May 2001, since the March bottom in 2001 took out many of those smoke and mirrors outfits) a lot of the companies deleted were already out or on the way out, and more importantly, their weight in the index was already quite negligible. It is that peak value at 5100 plus on the Naz that included a lot of those now delisted companies and contributed to the peak with excessive weight on the index.
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