My computation indicates max low is to $322. This year, the length of the fifth wave of an impulse (bull or bear) tends to be 100% of the length of first + third wave. So I believe $325 is the most likely low. Ofc, is the last dip. The dip could happen during PM, not mandatory to happen during market hours. See chart below,
I still do not know whether one more dip is there or not, but skeptical with the behavior of market.
If it corrects on Monday, anything between $320 and $325 is a fine place to pick the low price !
I am really doubtful on market slide is done by last Friday.
I will hold 500 TQQQs (about $50k) to ride all the way till completion of wave (III).V.5, expected to be QQQ > 400 (didn’t compute what is TQQQ), comparison starts from Friday close ($104.02, Feb 19) till then, and check which stocks beat it for that duration.
Some equity investors grew concerned about rapidly rising Treasury yields in recent weeks as they could especially hurt high-growth companies reliant on easy borrowing while diminishing the relative appeal of stocks.
Since when AAPL is a high growth company that rely on easy borrowing? Is an article to scare retail traders to sell.
Interestingly RSP continues to outperform SPY. From last year’s March low it has gained nearly 20% more. You wouldn’t think so for all the buzz over the continued outperformance of the mega-caps and out-of-favor value stocks.