What’s next for the Nasdaq 100? Will we see a continuation of the aggressive bull phase that we’ve observed off of the April 2024 low?
Or do we see a change of character, more of a bearish rotation?
As the lack of breadth support, the narrow leadership has really begun to plague our major equity benchmarks. In today’s “choose your own adventure” style video, we’ll lay out four potential scenarios for the QQQ over the next six to eight weeks.
Back in February, we conducted a similar exercise where we predicted four different outcomes for the QQQ. The market eventually aligned with both mildly bullish and bearish scenarios at different times, before reaching almost exactly to our downside target outlined in the “mildly bearish” scenario.
We’ll now apply probabilistic analysis to consider four new scenarios for the Nasdaq 100. This approach helps you visualize both positive and negative outcomes, think about how likely these scenarios are, and prepare for action to protect your portfolio.
- Which scenario do you believe is most likely for the QQQ over the next six to eight weeks, and why?
- What could cause a dramatic improvement in breadth indicators and support a super bullish scenario?
- How should you prepare for a potential breakdown of moving average and trendline support in a bearish scenario?
Video
Nasdaq 100 ETF $QQQ Trading Outlook: February 2024 vs June 2024
Twitter: @DKellerCMT
The author may have positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
