QQQQ:SPY

QQQQ:SPY peak has been a good indicator of market tops in the past two times. 

 

This kind of sharp drop did not happen a lot in last 3 years. Only 2 are comparable to this one.  And only 1 (August 2008) is very similar to this one in terms of 1) high Q2S value + 2) sharp drop of Q2S ratio + 3) negative divergences on MACD & full STO.  Statistically, small number of samples means low reliability of the conclusion.

 

However, if history is going to repeat itself, another downtrend is coming.  will it?? :)