N0tSwift

QQQ - Drop 'til We Stop

Short
NASDAQ:QQQ   INVESCO QQQ TRUST UNIT SER 1
Where's the next bottom? It's certainly interesting.

Blue Line - Sept-October support
Orange Line - Feb High Pre-Covid
Black Line - Bottom of channel 2012-2020 upward trend

Personally, I think the fundamentals of the economy are worse than they were pre-COVID (unemployment, forestalled foreclosures & evictions, bankruptcies, businesses closing...), which means we should logically go down around the Orange Line and lower.

Wave Analysis suggests were in a C leg of a correction, and only due down to somewhere just above the Feb ATH support.

*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Comment: Blew through 282 today, now down to 274, and then we'll see "How Low Can You Go?"

Comments

I agree. Looks like the beginning of Wave C. Wave B is over.
+1 Reply
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