$QQQ just hit 8 consecutive days closing below its open—longest streak since the March lows, which only managed 7 days.
This is rare air. Even during March's drawdown we didn't see this kind of relentless selling pressure day after day. Yeah, the dip's been shallow-ish so far, but the consistency of the weakness is what stands out.
When you get this many red closes in a row, it usually means either:
1) A capitulation flush is coming soon, or
2) We're setting up for a sharp relief bounce once sellers finally exhaust.
Either way, this kind of streak doesn't last forever. Watch for a gap-up open or a strong intraday reversal to signal the turn. If we break this pattern with conviction, the snap-back could be violent.
For now, the trend is clearly down—but streaks like this often mark extremes, not the start of something worse. Stay alert for the shift. 🧐
This is rare air. Even during March's drawdown we didn't see this kind of relentless selling pressure day after day. Yeah, the dip's been shallow-ish so far, but the consistency of the weakness is what stands out.
When you get this many red closes in a row, it usually means either:
1) A capitulation flush is coming soon, or
2) We're setting up for a sharp relief bounce once sellers finally exhaust.
Either way, this kind of streak doesn't last forever. Watch for a gap-up open or a strong intraday reversal to signal the turn. If we break this pattern with conviction, the snap-back could be violent.
For now, the trend is clearly down—but streaks like this often mark extremes, not the start of something worse. Stay alert for the shift. 🧐