A medium-term uptrend had started on March 9, 2009 at 1265.52 and reached 2327.03 on Friday, March 05. NASDAQ gained -1061.51 points, or -83.88%, in 51 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 2302.14 and resistance is at 2445.95. A medium-term trend has formed a five-wave structure. The fifth wave is in progress now.
| NASDAQ: medium-term uptrend |
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A short-term uptrend had started on February 5, 2010 at 2100.17 and reached 2327.03 on March 5, 2010. NASDAQ gained -226.86 points, or -10.80%, in 28 days. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (2331.43).
| NASDAQ: short-term uptrend |
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Weekly Williams' Percentage Range is strongly overbought. Daily Relative Strength Index and Williams' Percentage Range are overbought, while Lane's Stochastic is strongly overbought.
A short-term trend has formed an A-B-C wave structure. Wave C is near completion and a pullback is expected soon.
