$Invesco QQQ Trust(QQQ.US)Repost from Iron Master: The clear upward channel on the weekly chart of QQQ shows that every bear market has bottomed near the lower rail, including the recent flash bear market in 2020 due to the pandemic and the interest rate hike bear market in 2022. It has now broken below the middle rail, and there may still be 20-30% downside to the lower rail. If the decline is fast, the downside could be larger; if slow, it could be smaller. A 20% drop might not seem like much, but it could take a year, with two weeks of gains followed by four weeks of losses... The best scenario was the 2020 black swan event, which hit bottom all at once—such opportunities are rare.
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