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Nasdaq and S&P Bottoms Forecast
Nasdaq fell yesterday to the 20-month average and has dropped from its highest by 73% in 2001, 55% in 2009 and 32% in 2020. S&P did not fall to the 20-month average yet and sits above it by 7% and has dropped from its highest by 51% in 2001, 57% in 2009 and 35% in 2020. I believe the next bottom after they break below the 20-month average will be at the trend line that connects the low of 2009 to the low of 2020 which would show 9,000 for Nasdaq and 2,750 for S&P or a drop from highest by 44% for each. This interestingly matches with Fibonacci's last level for Nasdaq at 8,643 and S&P at 2,743 when it is calculated from the low in 2020 to the highest in 2021. Please give me your opinion on my post to help this old man decide on what to do in this volatile market.