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Is Nasdaq About To Fall 25%?

By Chris KimbleStock MarketsOct 29, 2020 01:50PM ET
www.investing.com/analysis/is-nasdaq-about-to-fall-25-200542828
Is Nasdaq About To Fall 25%?
By Chris Kimble   |  Oct 29, 2020 01:50PM ET
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Nasdaq Composite 25-Year Chart.
Nasdaq Composite 25-Year Chart.

Technology is the lifeblood of our current economy and dictates future innovation. The sector has also taken a primary leadership role in the 11-year bull market.

But, as most of you are aware, that doesn’t mean that tech stocks are always smooth sailing. In fact, the Nasdaq and tech stocks can be a bumpy ride. Just check out today’s chart!

Displayed here is a “monthly” chart of the NASDAQ Composite, which highlights some a handful of large bearish reversal patterns.

The month of October is not over yet, however, it appears that the Nasdaq Composite Index is creating a rather sizeable bearish reversal pattern. As well, this move to the downside is occurring just after the index kissed the underside of the 261% Fibonacci extension level at (1).

Glancing back at recent history, you can see that a handful of large monthly reversal patterns have lead to significant declines of 25% or more.

Should October close out at current levels and confirm this bearish reversal pattern, it would send a message of caution to investors.

Is Nasdaq About To Fall 25%?
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Is Nasdaq About To Fall 25%?

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Comments (21)
Andre Goldman
Andre Goldman Oct 31, 2020 9:34PM ET
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NASDAQ IS ABOUT TO FALL 25% [that is one another "crash" of 25% after March 2020 crash] -- THIS GUY KIMBLE MUST BE ONE SUPER GENIUS -- ROFL. There are so many genius "experts" that are calling for a market 'crash' that makes me even more bullish. The year 2020 has already had its market crash and that took place in March 2020. Have you ever heard a thing such as "double market crash in one single year" did you? Have you heard for example: "the double crash of 1987"? or the "double crash of 2008"? We had already a "market crash of 2020" and that was in March of 2020, if you can make another "market crash in 2020" PLEASE DO SO because that would be historical and unprecedented. I really would like to see that happening to update the market history books with such a phenomenon. So many "market experts" these days...ROFL
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Chumbles Goatly
Chumbles Goatly Oct 30, 2020 3:20PM ET
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Double digit unemployment World pandemic that threatens more shutdowns and posting records high infections/deaths In 4 days, one of the most controversial presidential elections in the U.S. in recent decades State and local governments are suffering major budgetary challenges as payroll taxes continue to decline. Taxes must increase or major budget cuts. Commercial real estate in major cities experiencing an unprecedented decline as companies are realizing they don't need to spend tens or hundreds of thousands of dollars each month to lease office space when their employees can just work from home. The "average consumer" is becoming more and more accustomed to cheaper forms of entertainment and spending less on travel and leisure. I don't see a problem. /sarcasm
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Chumbles Goatly
Chumbles Goatly Oct 30, 2020 3:19PM ET
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Double digit unemployment World pandemic that threatens more shutdowns and posting records high infections One of the most controversial presidential elections in our lifetime in 4 days State and local governments are suffering major budgetary challenges as payroll taxes continue to decline The "average consumer" is becoming more and more accustomed to cheaper forms of entertainment and spending less on travel and leisure. I don't see a problem. /sarcasm
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Fabio falec
falec Oct 30, 2020 4:29AM ET
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This article is very scarse in info, just considerations that everybody can do!
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Benson Njonjo Ndehi
Benson Njonjo Ndehi Oct 30, 2020 2:20AM ET
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If economic data keeps improving then yes because it means no more stimulus.
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Fabio falec
falec Oct 30, 2020 2:20AM ET
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Do you think economic data can improve with all states moving into a new fresh lockdown? lolz
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Pete Palella
Pete Palella Oct 30, 2020 1:53AM ET
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If the democrats get elected then yes
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Aditya Kshirsagar
Aditya Kshirsagar Oct 30, 2020 1:17AM ET
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If biden gets elected ! Possible!
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Duane Goodson
Duane Goodson Oct 30, 2020 1:00AM ET
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Meh, as long as the economy is rolling along we good. 25% stuff happens when the economy is bad.
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Fabio falec
falec Oct 30, 2020 1:00AM ET
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You would remind that it doesn't take much to revert the economic numbers. Did you remember in March? Well, we have still the same problem. Definitely, this isn't an hoax!
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Nicholas in North Carolina
Nicholas in North Carolina Oct 30, 2020 12:39AM ET
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I doubt Warren Buffett would be a buyer here. 💰
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Rodolfo Barraco
Rodolfo Barraco Oct 29, 2020 11:38PM ET
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Iceberg at sight. Dont cry later, you have been warned
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