Coach Mark here.

I read a lot of news every day. It is part of my job but even if it was not, I still would read a lot of market-oriented news. I love the markets, like to be informed and as such take in a lot of info every day. Over the last couple of days, I have started hearing several market commentators talk/speculate/opine that perhaps we are having a “1987” scenario brewing.

I understand that people are trying to get clicks and views and as such tend to be a little more dramatic/over-the-top than perhaps they should be. However, this is just bad analysis. It is silly to be honest.

Could market trouble be brewing down the road? Sure. Could a 1987-like scenario happen again one day? Sure. Could we be heading lower in the short-term if support levels break. Sure. However, go look at the QQQ chart and ask yourself if it resembles anything to 1987, 2020 or anything like the epic bearish markets in history. Looks boring in comparison. If big-cap tech stabilizes here, most other things will likely stabilize as well…just like they did in March after that episode of volatility.

Are there charts under stress? Absolutely. However, when we have the next 1987 or 2020 scenario you likely will not have time to speculate whether one is brewing two weeks into the drop. It will already have occurred.

Have a fantastic Thursday!

Chart of the Day: NASDAQ 100 (QQQ)

While there is severed volatility in certain areas of the market it isn’t really manifesting itself in technology at this point who looks very orderly by comparison. This is what occurred in March, the last period of market volatility, before just about every area of the market bottomed. The generals led…others soon followed.

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