N0tSwift

QQQ Headed back down into 2008-2012 channel (25-35% correction)

Short
NASDAQ:QQQ   INVESCO QQQ TRUST UNIT SER 1
I see the market having gotten over-exuberant in August, and expect us to correct back into the 2008-2012 Channel.
The Pre-COVID ATH points towards right in the middle of that channel, and a normal 8 year (now 12), correction by 33%

Short term (<4 months), I think we have a slow bleed into 2021 as we correct.

RISKS/CHANGES Possible: Big Stimulus drives the market up. COVID Vaccines come early and prove effective.
Baring these two things, I expect a short term downward trend that still has 20-30% to go.


* NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR *

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