Several of the key trading channels that I see in the Nasdaq. If they are right, then it is currently hovering just at the center line of the channel created by the dot com bubble. Hopefully we will find some support here, but if not, then there is still a ways to fall to the bottom of the blue channel.
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Out of curiosity, I took the end of the dotcom crash and the rally to the 2009 crash on added them to the chart. With very little tweaking this is what it looks like.
