It’s time to do a review of the crash comparisons we’ve been tracking for SPY, QQQ and XHB. Here is where we are:
SPY has only had a 6.64 percent drop from peak and we’re about 400 days in so will we correct over the next 200 days or not?
QQQ is down 9.34 percent from peak along the same 400 days in so will it correct over the next 200?
But the most intriguing of all is XHB because despite a 525% interest rate hike the homebuilder ETF has been resilient in not correcting. We’re 400 days in and we have 161 days until January 19 2024 expiry. We hold put options on XHB for Jan 2024 expiry.
Will we end up profiting? Stay tuned, stay profitable and stay solvent…