QQQy / IWMy malarkey..

Monday 22nd July - Daily Equity Update

Where do we stand with the whole QQQy / IWMy malarkey?

The first explanation of these charts...

IWM - Hourly

IWM - Daily

IWM on the hourly measure hit the dreaded black line of doom. This often coincides with maximal bear porn. It did not hit quite as badly on the daily, but this was still a level where IWM spends less than 15% of its time.

QQQ - Hourly

QQQ - Daily

How ironic would it be that all the podcasters/YouTubers have booked or recorded their tech crash episodes as the move was burning itself out?

The move in April did blip into the black but was very short-lived.

“Stinky Fingers” has triggered on QQQ hourly but moves are more meaningful when the triggers come in pairs.