Initial High (A), consolidation, New High (B), Bottom (C).
(C) is the low of the consolidation between (A) and (B).
NASDAQ from October 1, 2018 to December 24, 2018 (84 days, 12 weeks): $7744 to $5882.70 (-$1861.30, -24.04%)
This move down to bottom (C) was followed an initial top (A), a consolidation, and new top (B); moreover, this move down to C was a previous technical level due to the consolidation between A and B.
This same pattern is repeated again.
NASDAQ from February 10, 2020 to March 23, 2020 (42 days, 6 weeks): $9759.10 to $6571.30 (-$2998.80, -30.76%)
Predictions:
1. Over the next week, the NASDAQ will continue decline.
2. The NASDAQ will bottom out at the previous consolidation bottom ($10652)
3. This move from (B) to (C) should be relatively smaller compared to the previous two exhibits of the pattern'; therefore, the move should be approximately 27 days total.
4. This move from (B) to (C) should be approximately equal to the previous price drops; therefore, the move should be approximately -27%.
(C) is the low of the consolidation between (A) and (B).
NASDAQ from October 1, 2018 to December 24, 2018 (84 days, 12 weeks): $7744 to $5882.70 (-$1861.30, -24.04%)
This move down to bottom (C) was followed an initial top (A), a consolidation, and new top (B); moreover, this move down to C was a previous technical level due to the consolidation between A and B.
This same pattern is repeated again.
NASDAQ from February 10, 2020 to March 23, 2020 (42 days, 6 weeks): $9759.10 to $6571.30 (-$2998.80, -30.76%)
Predictions:
1. Over the next week, the NASDAQ will continue decline.
2. The NASDAQ will bottom out at the previous consolidation bottom ($10652)
3. This move from (B) to (C) should be relatively smaller compared to the previous two exhibits of the pattern'; therefore, the move should be approximately 27 days total.
4. This move from (B) to (C) should be approximately equal to the previous price drops; therefore, the move should be approximately -27%.