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Lately the setup feels a lot like Aug - Oct 2023, when QQQ/Nasdaq pulled back \~10% without anything actually “breaking.”
Back then it wasn’t one big headline that caused the drop. It was more a slow grind..
\- Rates stayed higher for longer than people wanted (now: Warsh).
\- Economic data kept coming in strong, so rate cuts kept getting pushed out.
\- Overt geopolitical tensions and uncertainty.
\- Nasdaq had already ripped, AI hype was hot, and the market needed to cool off.
Fast forward to now and a lot of that feels familiar.
WDYT?