QQQs 2000 and 2014, just interesting

With time to burn before the rendezvous with prognostication failure (QQQs $94 the weekend of March 30, 2014), I decided to look back at the last 10 years of QQQ run-up to a final high.  Of course I looked at the great 2000 market high in QQQs which will be exactly 180* of hello Saturn from that date on March 30, 2014.  Get the drift already?

Very simply, QQQs double bottomed on Tuesday March 20, 2000 (the bottom was 3 trading days earlier on Thursday), a mere 4 trading days before the March 24, 2000 top.  From that point to the March 24, 2000 high, QQQs increased 16.32 points or 16% in 4 trading days.

Today, it appears QQQs has double bottomed off the low of 1 trading day earlier.  To reach the projected $94 target on Friday March 28, the market will have to gain 7 points from yesterday's bottom or 8%.  

This is a different time, however…..hardly a dot.com mania.  

Extending that timeline, look at what happened in the next 11 calendar days to the first discernible bottom on April 4; the market declined 32 points.  Look at the Fib retracements.  The first bottom on Thursday March 16, 2000 represents 61.8% of the subsequent first wave down April 4, 2000.  And the double bottom on March 20, 2000 represents 50% of that same subsequent decline.

Remember, what occurred in 2000 is exactly 180* of hello Saturn ago.  

Jim