On this monthly chart of the Nasdaq Composite Index (the index of the US technology stocks), you can see:
1) that we are in a secular bear market since the burst of the tech/internet bubble in 2000
2) that within the secular bear market, there was a cyclical bull market from 2003 till 2007
3) in 2008 the market went down strongly and reached a bottom in March 2009
4) we are now at a critical juncture: will the Nasdaq index break out above the downtrend line? if yes, it would mean an end to the secular bear market; if not, a continuation of it.
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