Let Me Lay a Little Big Picture NDX (NASDAQ 100, http://stockcharts.com/freecharts/gallery.html?s=ndx) Elliott Wave on You, see the Yahoo maximum timeframe candlestick chart at http://finance.yahoo.com/q/ta?s=^NDX&t=my&l=off&z=l&q=c&p=&a=w14,fs&c=.
The first NDX plunge after the March 2000 Secular Bull Market Cycle High was probably a Wave 1 Cycle Low in late 2000. Wave 2 up peaked in very late 2000 or very early 2001. Wave 3 Down (and probably Wave A Down of the Secular Bear Market since March 2000) appears to have bottomed in late 2002.
The late 2002 to October 2007 NDX (NASDAQ 100, http://stockcharts.com/freecharts/gallery.html?s=ndx) Cyclical Bull Market is probably Wave 4 and Wave B Up of the Secular Bear Market since March 2000, assuming that the current NDX Major Upcycle since late 2008 doesn't take out the October 2007 Cycle High; if it does, then, this NDX Major Upcycle since late 2008 is Wave 4 and Wave B up (since late 2002) of the Secular Bear Market since March 2000 peaking in rollover mode versus the October 2007 Cycle High.
Either way, it looks like NDX is going to put in a modestly lower or possibly a modestly higher bearish double top with the October 2007 Cycle High, see the Yahoo maximum timeframe candlestick chart at http://finance.yahoo.com/q/ta?s=^NDX&t=my&l=off&z=l&q=c&p=&a=w14,fs&c=. It looks like NDX either entered Wave 5 and Wave C Down of the Secular Bear Market since March 2000 in very late October 2007, or, is about to do so in the relatively near future.
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