$QQQ just hit 5 red days straight. One more tomorrow and we're at 6—longest streak since last month.
If we stack 7 straight red days (tomorrow + Monday), that's the longest losing streak since Oct-Nov 2016. That's 8 years ago.
Context: This kind of sustained selling pressure usually means either a legit correction is underway or we're setting up for a violent snap-back rally. Watch how $QQQ reacts at support—if it holds and reverses, the bounce could be fast and furious. If it breaks, we could see another leg down.
For traders: If you're long, tighten stops. If you're short, don't get greedy—these streaks often end abruptly. And if you're on the sidelines, start building a watchlist for oversold bounces.
If we stack 7 straight red days (tomorrow + Monday), that's the longest losing streak since Oct-Nov 2016. That's 8 years ago.
Context: This kind of sustained selling pressure usually means either a legit correction is underway or we're setting up for a violent snap-back rally. Watch how $QQQ reacts at support—if it holds and reverses, the bounce could be fast and furious. If it breaks, we could see another leg down.
For traders: If you're long, tighten stops. If you're short, don't get greedy—these streaks often end abruptly. And if you're on the sidelines, start building a watchlist for oversold bounces.