An exciting trading day today for the U.S. market. Let’s take a look at where we stand on the SPY, QQQ and XHB crash comparisons. First up SPY.
SPY
SPY is down 13.94% from its post COVID high and that’s quite something because the market tends to be forward looking perhaps we are finally sliding into recession?
QQQ
The QQQs are doing worse than SPY but just by a margin an dis down 14.54% from post COVID high. The “dot com” crash took 505 days to bottom out and we are about 490 days into this crash so will the QQQs continue to fall or rally?
XHB
We continue to hold PUT position on XHB for January 19 2024 expiry and we are excited it is treading down but will it reach our $55 strike prices? Only time will tell so stay tuned, stay profitable and stay solvent…