On January 23rd, 2018 we published the following Nasdaq 100 monthly price chart when it stood at $6,906, commenting:
NASDAQ 100 (Symbol: NDX) Monthly Price ChartWhen in doubt about the target plot it on a semilog price axis, which reshapes an exponential trend with a linear look. Plotting the resistance trend line above the price indicates upside targets of $7,100 if reached in Jan and $7,200 if reached in Feb 2018.
Here below is the updated chart showing the successive retests of the upper exponential trend line at $7,023 in January 2018 against $7,100 proposed and again at $7,186 early March against $7,200 suggested for February 2018.
It was subsequently retested again in July and August 2018, and it remains to be seen if another rising leg could bring NDX to $9,000 by the end of 2019 or early 2020 for a another test.