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.

Small Cap Stocks To Lead Long Term

Everyone knows that small cap stocks are the canary-in-the-coal mine for the economy.  One can assess the strength of the overall global economy based on the performance of small cap stocks relative to large cap stocks.  They tend to outperform when business conditions are good (i.e. consumers are spending, fear is moderate, lenders are lending, interest rates are low, etc.)  During bear markets, small cap stocks underperform.  During bull markets, they outperform.  We are currently witnessing the beginning of long term small cap stock outperformance.

From a technical perspective, IWM which tracks the Russell 2000 small cap index, has broken out of a large ascending triangle pattern and is on its way to new highs.  We're just getting started...

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...

Akamai Technologies On The Verge Of Major Breakout?

The series of higher lows over a 10 year period is a very bullish sign.

The above chart is taken from the Investor's Business Daily website.

Cisco Moving Higher For The Long Term

CSCO broke out of a period of price consolidation in late 2012.  Expect resistance at ~$30.

Canadian Banks Break Out

Canadian banks break above long term resistance.  This is a very positive sign for the TSX.