QQQ Simply Has to be Showing a Double Top
We've just seen another rocket parade over the past 2 weeks, like the one we saw back in November. But, as we kick-off Q1 earnings season, are we finally seeing the end of the insane post Covid crash rally? If we break out higher, the S&P could potentially breach the upper band of the ascending channel, leading to yet another round of short squeezes, and new ATH's. According to Nomura, we're in the 92.8th percentile for long delta, which is extreme to say the least. Everyone is on one side of the boat, so what happens next?
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