For the aforementioned October and January top the Nasdaq fell approximately 10%, so if one was to apply an 8-10% drop from the current high then the Nasdaq would cleanly cut through its 20-day and 50-day MAs and wouldn't see some semblance of support until it got to its ascending 200-day MA.
It will be interesting to see how the 79 trading strategies covering UK, US, Canada, India, Ireland, Frankfurt, Australia and Forex markets react to this correction. I suspect many long strategies will see a succession of stop-hits at the trail or fixed stop price.
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