Gold’s Momentous Rally From 2000 Compared To SPY & QQQ – Part 1

My research team and I went off on a wild tangent trying to identify how the markets could react to the recent spike in price activity on Monday, November 9, 2020.  This is the day that Pfizer announced a 90% effective rate with its new COVID-19 vaccine, causing the US stock market to skyrocket higher before the opening bell in New York. As with most pop-and-drops, this incredible upside spike trailed lower for the remainder of the trading day.  My research team was curious if this type of setup presented any real future outcome or trends.  To this end, we focused on the QQQ and the SPY in relationship to Gold.


Chris Vermeulen
TheTechnicalTraders.com

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Gold’s Momentous Rally From 2000 Compared To SPY & QQQ – Part 1


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