The QQQ’s: Are we worse off then the Covid drop?
Curious enough as we’re apparently officially in bear market territory I decided to take a look at the historic climb from 2020 and 2021, looking at the daily charts. I know who actually checks dailies on WSB.
The March 2020 drop when COVID first truly hit took us from a high of 237.47 on 2/19 to a bottom of 164.93 on March 23rd. About a 30% drop. What’s interesting is even during this drop, we never experienced the death cross. There was a time in early April where they seemed to overlap for a day or two, but never the true cross.
We all know how hot the market got after COVID, but we’re missing the market was hot even before it. The market closed on 12/31/2018 at 154 and change. 2019 saw us climb up to 212. I keep seeing references to pre 21 level being reached and referencing ATH’s, but we forget the market just was so hot that even a 30% drop from March of 2020 didn’t trigger the cross.
With the official bear market triggered, this isn’t your March 2020 crash. That was a flash crash with some crazy scenarios that rebounded as fast as it fell. This drain is much different. Sustained and steady decline, really since the start of the year. To top it off, we have now seen the death cross back on 3/3. This one just feels different, but also shows different. Those minor corrections through 2020 and 2021 and even the COVID drop isn’t and won’t be as worse as this one. Prepare for a rough year and plan accordingly.
TLDR: This time it’s different. Things suck… Stonks can sometimes go down..
Submitted March 09, 2022 at 01:03AM by Different_Chain_3109
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