Chart of the Day - Tuesday, April 26th, 2022
April 26, 2022
Today’s Chart of the Day was shared by Steve Strazza (@sstrazza). It's a daily candlestick chart of the Nasdaq 100 ETF ($QQQ) over the past two and a half years. The Nasdaq entered into "official bear market territory" again today, down more than 20% from its all-time high. More importantly, it broke through the anchored VWAP from the COVID lows (around $318). In other words, the average buyer since this bull market began is now underwater. Caution is warranted as long as we're below this level.