Happy Friday, everyone. The futures are pure green right now, when the /ES precisely at its prior peak.
![](https://slopeofhope.com/wp-content/uploads/2024/01/espeak-640x459.png)
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Happy Friday, everyone. The futures are pure green right now, when the /ES precisely at its prior peak.
There’s an old saying about how you don’t regret the things you do, but the stuff you don’t do. That definitely applies to trading. For weeks I prattled on about the introduction of Bitcoin ETFs would end in tears. The rainbow told us everything we needed to know.
This trendline did precisely what I was hoping it would do, which is why being a bear hasn’t sucked out loud for far in 2024. Frustrating, yes, but still profitable.
Viewed over their entire common lifespan, the QQQ (NASDAQ 100) and SMH (semiconductor index) funds have, in the end, performed almost identically. You can see how badly semis lagged for a huge chunk of this chart (black lower than blue) but they have “caught up” admirably thanks to the likes of NVDA and AMD.