Will 50 Percent Fibonacci Level Mark Nasdaq Inflection Point?
In 2012 we were reminded of the magnitude of the NASDAQ Composite (INDEXNASDAQ:.IXIC) decline during the 2000-2002 bear market. In March 2012 the index rallied to the 50 percent retracement level of the aforesaid bear market before falling into a correction. In September 2012 and October 2012 the index revisited the 50 percent retracement but failed again to hold this key technical level thus highlighting the potential for a Nasdaq inflection point.   Heading into 2013 I see three clear options for the NASDAQ Composite: The index could finally push above the 50 percent retracement of the 2000-2002 bear market and the 1983 ...
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