Looking at weekly QQQ: In the last recession, after confirming it via Sep 2 EMA crossing, we saw within 2 months of that crossing a very nice bull rally week. But it's a trap! We can see it was a trap by waiting for the week to play out & notice that BBPower was very weak, as shown via yellow circles. The bulls now are fatigued from the bears & want to get over this recession already, but make sure you confirm bull momentum is there before going back in, whether you are getting out of shorting via SQQQ or going long with TQQQ. We recently confirmed this recession from the Jun 6 EMA crossing, so be patient.
the dump well have now should take about half the time so around the end of the year, great analysis i saw the same thing
roelds
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@Trader_Danny_, thanks! I'm hoping for end of the year as well, as usually the markets like to reset for a new year.
Alt-B
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Nicely done and agree. One point to correct tho..we would have confirmed the bear market on Jun 6 not the recession. Recession is 2 (or more) quarters of economic contraction and has yet to be confirmed but my suspicion is we are in it now...I also don't believe that recession is fully priced into the market which gives it another 15-30% down....which is why I agree with you idea ;)
roelds
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@Alt-B, Thanks for commenting! Yes, recession is lagging indicator for markets, so I tend to use that term loosely when referring to my EMA crossings, since those lag also. Yes, I also think we have at least double digits more percent down. I'll keep watch on it!