Published June 5, 2020
Stocks have just unleashed their all-time best 50-day performance in history. Some think it might be due for a break. The support for that argument comes as the Nasdaq 100 (QQQ) has run right up to its prior high point – e.g. it’s on the verge of an all-time high price. Usually, there is some resistance to buying at an all-time high price (who wants to pay the highest price ever for something?). That resistance eventually gives way as new information supports paying more. But initially, there is some balking. We find ourselves at that point this week. (more…)