Retired finance professional. I can't see the future and neither can you; anyone who says different has something to sell. NOTHING I SAY IS INVESTMENT ADVICE.
QQQ just had its second -2.5% day within a 5d period that also included at least two +1% days.
This is the 55th time now this has happened.
You'll never guess when the events occurred.
2000 (21x)
2001 (10x)
2002 (8x)
2003
2008 (4x)
2009
2016
2018 (2x)
2020 (4x)
2022 (2x)
Yesterday
Well, holy shit.
At one point today, QQQ was down -7.99% from a peak set within the past 12 days.
Would you like to know how QQQ did the "next day" the last 6 times the same thing happened?
-2.0%
-2.0%
-0.8%
-6.2%
-2.2%
-1.1%
QQQ set a new 26-trading-day low on a -2.75% day for the 7th time during the 0DTE era.
And where was QQQ 6 months later?
+33.8%
+14.8%
+21.4%
+14.6%
+15.5%
+5.2%
Today
▪ SPY was down at least -1.1%
▪QQQ was down at least -2.5%
▪ TLT was up at least +1.8%
▪ VIX closed under 20.00
That...
Had never happened...
In the history of the market...
Until today.
This is weird. For only the 11th time in $SPY history, a 1% down day was followed by two consecutive days within that day's open to close range.
That's unusually rangebound after a sharp decline. The S&P 500 was positive in 10/10 prior cases in next 2 months with strong gains.
Do you guys want to hear something fucking crazy? Today, on a positive SPX day, the entire daily range was within yesterday's OPEN/CLOSE candle body.
Whatever. That's not the weird part.
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