QQQ Continues to Rise – Is a Top Approaching?
QQQ has now risen 14 days in a row and all else is normal in the world.
Everyone is waiting for this market to break, myself included, but as I mentioned yesterday bull markets can remain overbought for quite some time.
The excess cash out there is under full pressure to be put to work and this is being compounded from all the money that flowed out of bond funds last month. Longer term, this is healthy for the market; on a short-term basis a top is likely very near.
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