As I mentioned in last week’s video, all eyes were on the QQQ’s this week as it seemed poised to join the SPY and DIA at all-time highs and the QQQ’s did not fail to deliver hitting ath’s mid-week and closing near ath’s. Congrats QQQ holders! :muscle:
Our call on the reversal in bonds and gold continues to play out along with the strong correlation between the long bond and QQQ, as well as the long bond and gold.
This coming week the IWM is the index to watch to see if it can play catch up as well as a possible bid up in the emerging markets side via EEM.
Finally, on the crypto front, Bitcoin took a smaller breather which paved the way for the continued rush back into alt-coins. Can you say alt-coin season? Dogecoin anyone? :dog2:
With that as a backdrop here’s some food for thought in this week’s video: