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NASDAQ at 200-day MA resistance - past historical examples abound

The NASDAQ is at its 200-day MA.  Prior examples abound where major averages such as the NASDAQ and Dow Jones Industrial Average could not break through the 200-day when coming straight off the bottom, as the market has done since March 2009.

 

FAILURES:

NASDAQ

Cases where the market was unable to break through the 200-day moving average:
12/6/02, 9/25/98, 3/25/88, 8/24/84, 5/14/82, 11/27/81, 10/12/73

Cases where the 200-d porosity is large but market ultimately fails:
12/7/01


DJIA

Cases where the market was unable to break through the 200-day moving average:
4/18/30, 9/12/30, 2/27/31

Cases where the 200-d porosity is large but market ultimately fails:
9/9/32

 

SUCCESSES:

NASDAQ

3/21/03, 10/30/98, 1/25/91, 9/3/82, 1/31/75

Though in most of these cases, there was a prior low then a retest of this low before the NASDAQsuccessfully rallied through the 200d (egs: 12/27/74, 8/13/82, 12/14/84, 10/9/98, etc).

I intentionally excluded cases where the correction below the 200d was not substantial such as 5/16/80, 1/9/87, 8/13/04, 7/21/06.

Today's NASDAQ has yet to retest this prior low, therefore, historically speaking, the odds of the  NASDAQ successfully breaking through the 200-day without a retest are highly unlikely.

Dr K

gilmoreport.com - the logical way to wealth through stock selection, market timing, and in-depth historical perspective offered by two of William O'Neil's (creator of CANSLIM, founder of Investor's Business Daily) former top two investors.

 

Disclosure: No positions