QQQ Nasdaq Drop Analysis July 11, 2024
Everything that goes up must come down! Many people get scared on days like today when the NQ dropped around 10% out of nowhere, but if we expand the chart, we can see that since mid-April, the Nasdaq has only gone up and up! We call this a state of institutional liquidation.
Today, the CPI results were favorable, and there was no economic news that could have taken down the Nasdaq, so naturally, the market has to go down. The question is, for how many days? We really don't know, but if we average the last pullback, we can see that it will be at least 4 to 5 days.
Thank you.
Today, the CPI results were favorable, and there was no economic news that could have taken down the Nasdaq, so naturally, the market has to go down. The question is, for how many days? We really don't know, but if we average the last pullback, we can see that it will be at least 4 to 5 days.
Thank you.
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