Important Similarity

By -

The NASDAQ 100 (viewed here as QQQ) reached a recovery high in late April, spent a few days monkeying around this lofty territory, and then rolled over and spent most of the next six weeks falling.

The pattern and behavior we've witnessed the past few days is strikingly similar. It could be different this time, of course, but this analog is worth remembering. I'm long QQQ for now, but I am watching this closely.