Tesla closed on Friday at $1,545. By 10:00 am this morning it hit $1,795, up 16% on no news. It ended the day at $1,497, down 17% from its high. I believe they call this a blow off top. The Nasdaq 100 followed suit. Following its blow off top on March 7, 2000, it proceeded to fall 80%. Is history about to rhyme?
The Nasdaq 100 rallied more than 2% intraday to set an all-time high, then reversed to close down by more than 1%.
It's done that twice. Today was one.
March 7, 2000 was the other. pic.twitter.com/zEJoOrf6JZ
— SentimenTrader (@sentimentrader) July 13, 2020
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