Under The Surface
It is now clear that the long predicted, wrong until now, TOP for the FAANGS has occurred. The QQQ’s should not take out the high of 303.50 from Sept.2. What isn’t clear yet, is if the DJIA and SP 500 continue to rally, while the QQQ’s trade at levels below the Sept. 2 high. I still think the rest of the market can continue higher in the short term.(around the election) The charts of AAPL, FB, GOOG and others just broke below their recent lows of last Friday. They can have spikes, but I don’t see those that have traded below their recent lows, going back to make new highs. Buying PSQ on dips (rallies in the QQQ’s) should be profitable going forward.
Enjoying a 10% gain within 45 hours in a tiny SQQQ position 🙂