NASDAQ Weekly TA - Waves & Head/Shoulder - bottom 6191 Feb 2021

Same as my S&P 500 TA. Going back to basics and keeping it really simple by looking at the weekly time frame. TA shows a motive 5 wave pattern starting way back before the dot com bubble. Lines up with the peaks and valleys pretty well. The head and shoulders pattern often represents the end of a motive wave (3-5) and the following corrective wave ( ABC ). Putting the two together gives a bottom of 6191 around the February/March 2021 time frame.

I know it seems crazy, but just look at the MACD. It is higher than the dot com bubble!!!

As always, this is just and idea. Markets are hard to predict else we would all be rich. I am probably wrong more than I am right.

Hope it helps and good luck.