Samwise Quick Reference Handbook
To streamline our daily blogs and conserve space, we’ve organized key resources into a convenient, collapsible dropdown menu below. A sort of Quick Reference Handbook if you will -- as our friends in aviation might call it. By clicking the menu below, you’ll have qu...
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Another quiet day of nothing
consolidation length correlates with the severity of correction?
Not always. But there is a high correlation between long consolidations and larger corrections.
We’ve seen some instances where a long consolidation lead to nothing. But in 75-80% of the cases, it’s usually leading to a much larger correction.
The only exception I can think of really is the March 2024 consolidation. That was the only one where we consolidated but then only had an 8% correction. In all of the others in recent years, it lead to a much larger sell-off.
It really feels like we’re losing steam. Think Sam mentioned it in Monday’s briefing but QQQ has basically gone nowhere in the last month and neither has Nvidia. Maybe if Nvidia has blowout earnings and gives stronger than expected guidance it gives us the fuel to make a push. We’ll find out today!