This past week the markets continued to slide lower as the fallout from the unwinding of the massive “gamma squeeze” saw many of the popular high beta tech names hit correction levels.
The end of the trading week was punctuated by a wild Friday session as quad-witching amplified the intraday volatility.
Notably, with 2 trading weeks remaining, the former high flying QQQ’s have now formed an outside month and this leaves open the possibility of the current weekly “momo down” condition to carry over onto the monthly charts.
For the month it’s interesting to note that the IWM is now outperforming the QQQ however if recent history is any indication this likely is not a sign of confidence.
In this week’s video I discuss the following topics:
Now watch this week’s Weekly Outlook video to see the setups and levels we’ll be watching as well as the technical outlook for the VXX SPY QQQ IWM DIA EEM TSX TLT GLD MGC BTCUSD EEM and more for the week of Weekly Market Outlook For September 21 – 25 2020.
Feel free to drop any questions into the comments and hit the subscribe button to receive notices of our weekly market analysis videos.