Just a quick look at a couple of major United States equity ETFs after the vomit-inducing four-day mega-rally that started in the wee yours of Tuesday and didn’t stop until Friday’s close.
Here we have the S&P 100 fund, symbol OEF, which since February 24th has seen the “higher lows” that just about everything else has had. I’ve anchored a line to its Friday high, but frankly it isn’t particularly meaningful since it doesn’t correspond to any true pattern.
Somewhat more convincing is the tech-heavy NASDAQ, which still has a reasonable-looking bearish pattern.
