History has shown the Nasdaq has been the most volatile of the major indexes. Although the last 4 weeks haven’t been pretty the Nasdaq has only dropped a maximum of -8.5% since peaking in mid July at 2725. Since the late 2002 bottom the Nasdaq has been making a series of higher Highs (points A) and higher Lows (points B) while maintaining its longer term up trend. Meanwhile notice the last three major corrections have ranged from -15.2% to -18.7% with an average loss of nearly -15%. Thus the Nasdaq could still drop another 5% to 8% and st[...]
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[Source: The Money Blogs]
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