Dotcom bubble+GFC=Great Recession

1. At the time of the dot-com bubble shock and the GFC shock, the NDX index made a low at the 0 sigma level to its high point.
2. While we can't anticipate the high point of the current rally, the current market is a combination of commercial real estate risk and the risk of M7 bubbles.
3. If we return to an average of 0 sigma, such as Dotcom Bubble and GFC, the NDX index expects 5000 to 3000 points.
4. Of course, the target point may vary depending on the final high point.