Less than 10% of Nasdaq stocks are above their 200 day moving average
Washout - The Irrelevant Investor September 27
The six tech giants have lost a combined $4 trillion in market cap since their respective peaks.
Using extremes in a bear market as a contrarian buy indicator is unreliable in the short term. What looks like a washout might look placid compared to the potential typhoon behind it. But if you can hang on to the wave, to beat this analogy to death, you will likely be rewarded in due time. Going back to 1996, when less than 10% of Nasdaq stocks are above their 200-day moving average, there was never a negative return one year later. The average return one year later was 35%! CHARTS cont https://theirrelevantinvestor.com/wp-content/uploads/2022/09/peak-.png
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