QQQ made history Thursday night closing at its highest ConnorsRSI reading in history (in fact there has never been an intra-day reading above 99!).
We looked at all dates from March 1999 when QQQ started trading. Here are the 5 previous highest closes.
Date/Time Daily CRSI
3/5/2010 96.13
7/7/2011 95.51
9/20/2010 96.23
12/21/1999 96.89
2/8/2000 96.43
Thursday saw the panic buying that was missing from the market and it’s needless to say that this rally is unsustainable on a short-term basis.
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