I’m still trying to figure out what can cause such a breakdown in the market. It is extremely likely that a CoVid wave hits the US once again due to the delta variant being strongly felt among young adults. I’m assuming the US will not hit herd immunity of 70% before flu season (October) and cases rise accordingly. More deaths in young adults. Some states shut down again? Who knows? The other is data coming in hotter than expected and FOMC meeting in the end of Sept causes more deterioration in the market and Powell is extremely hawkish pushing the fed to raise rates sooner than expected as early as beginning of 2022 instead of end of 2022. Oof!
If both news data comes to fruition, I could see the QQQs back in the 250s. The fifth wave is complete and my count is wrong and we go back to 2015 highs. I hope only one bad data happens and we go in this long bull run in the markets for the super cycle.