Nasdaq 10000 by the end of 2020? 2.618 Fibonacci extension target is ~13000

It has been a while folks.  Anyway here goes:

I think the Nasdaq is going to leave the 1.618 extension of its 2000 high behind and head to the next extension level (2.618).  Rounding the 2000 high to 5000 and the 1.618 extension to ~8100 (which we have been trading around since Feb 2018) the 2.618 extension would bring us to approximately 13000.

It took the Nasdaq 18 years to reach the 1.618 extension level.

The 2000 - 2015 Nasdaq base is gigantic.  It's possible that the breakout has just begun.

Amgen Breaks Out Of Very Long Term Base Pattern

Amgen is an extremely interesting company in an extremely interesting position.  They are one of the largest manufacturers of biologic pharmaceuticals in the world.  The market for this type of pharmacotherapy is expanding exponentially.  From a technical perspective, Amgen has a very bullish price chart.  It has broken out of a multi year period of price consolidation that has lasted approximately 11 years.  This uptrend could last a decade or more...

Apple Price Chart Showing Positive Developments

Something's going on with Apple.  On recent days when the market has been down or flat, Apple has undergone accumulation.  It is about to complete a well formed multi-month base similar to the one formed in 2009.  Apple's weekly chart is exhibiting bullish positive price/momentum divergence in addition to early outperformance when compared to the S&P 500.  The P&F chart is also showing a positive trend change.  It will likely find resistance at its 200-day moving average (~$462).  If it can break out from here, that would be extremely bullish.

I can't speak for new products in Apple's pipeline or how it may "change the world" again.  However, I can say that there have been recent notable bullish developments in its chart.

(Weekly price chart and P&F chart courtesy of stockcharts.com.  Visit stockcharts.com for more great charts.)

Microsoft Smoked! Time to buy?

10-year chart

Long term chart

Microsoft has a very nice long term chart and is nearing the completion of a long period of price consolidation.  I think it represents very good value at these levels.  I think this selloff will be short lived.

Shawn