On Monday QQQQ posted a higher high and a lower low than Friday. This is often referred to as an “outside day”. Interestingly, Friday was also an outside day. Two outside days in a row is quite rare. This was only the 19th time it’s been done since 2000. Looking at performance following the other 18 times shows some compelling results.
These appear to be quite positive implications. They also confirm the December study where I looked at back to back outside days in SPY.