Growth Stocks Being Tested

JC Parets
August 10, 2022

The title of yesterday's post was: "You can't be short".

I encourage you to give that a read.

And while that's happening over in the S&P500 and Ethereum, here's a good look at what's been happening in Growth:

Look at that support in Q1 for the Nasdaq, as well as its two largest components: Consumer Discretionary and Technology, together representing almost two-thirds of the entire Nasdaq100 Index.

Support broke across the board in Q2 and since then we've seen a period of basing that has lasted several months.

Prices are now back to that original support that broke in Q2.

If we are above the Q1 lows, we simply cannot be short. There are no ifs, ands, or buts about it.

And also make sure to check out: You can't be short.

Then ping me and let me know if you agree.

You can chime in here.

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- JC

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