The best trading year for QQQ ever:
Let's look at some statistics:
Of 249 trading days, only 141 (56.62%) were closed above the previous day's close!
Of 52 trading days, only 35 (67.30%) were closed above the previous week's close!
Now, you have a better understanding of Peter Lynch's quote:
“You're going to make mistakes. If you're terrific in this business you're right six times out of 10.”
This was the opposite of 2022 when QQQ sank 35% and only 133 days (53.2%)out of 250 closed below previous day! And 29 weeks (55.76%)out of 52 were closed below the previous weeks!
As you can see slight deviation from 50-50% can cause huge outcomes in market!
Forecast for 2024:
The most likely case is 10-20% on the upside while considering the possibility of the least likely case of a double top formation!
Note: everything is possible in market but it is important to know how likely is it going to happen???
Wish you all a happy new year full of profits.
Of 249 trading days, only 141 (56.62%) were closed above the previous day's close!
Now, you have a better understanding of Peter Lynch's quote:
“You're going to make mistakes. If you're terrific in this business you're right six times out of 10.”
This was the opposite of 2022 when QQQ sank 35% and only 133 days (53.2%)out of 250 closed below previous day! And 29 weeks (55.76%)out of 52 were closed below the previous weeks!
As you can see slight deviation from 50-50% can cause huge outcomes in market!
Forecast for 2024:
The most likely case is 10-20% on the upside while considering the possibility of the least likely case of a double top formation!
Note: everything is possible in market but it is important to know how likely is it going to happen???
Wish you all a happy new year full of profits.