Just as I predicted the Nasdaq generated a marginal breakout above the 2000 high and then proceeded to correct. At the top QE stretched the market way too far above the mean (200 week moving average). This had to be resolved either with a lengthy sideways consolidation to let the average catch up to price, or a correction. We got a bit of both. Now the market is set up for the next, and I suspect last leg of this bull market as central banks again make a massive monetary mistake and create the next series of bubbles.