QQQM - Irrational Exuberance - The Bulls Remain In Control

• Over the past couple of weeks, we have talked about a short-term correction potential due to selling pressure from annual mutual fund distributions.
• We saw that taking place this past week with the market struggling to maintain its breakout levels.
• With the heavily skewed "put-call" ratio currently, we could see volatility pick up as options traders roll positions over into 2021, or selling occurs to take "tax losses" for 2020.
• Such could provide a reasonable trading entry for a post-Christmas "Santa Claus" rally as portfolio managers add holdings to "window-dress" portfolios for year-end reporting.

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