The Nasdaq Tries to Resume Its Uptrend(?)

Weekly Update

The Nasdaq Tries to Resume Its Uptrend(?)


Published October 2, 2020

This week, our focus Nasdaq 100 (QQQ) appeared to resume the uptrend that was halted through much of September. Let’s examine the chart below to see how this market correction played out. The square around the price bars, and also around the volume bars, show the market selloff (declining prices in heavy volume). The -14% price decline from the selloff basically negated the sharp August runup, a runup which had most market watchers concerned about the “froth” in market valuation. (more…)