Black Monday all over again on October 19 and Where SQ may drop The weekly chart of SQ showed a strong rejection of higher prices at Vwap with an increase in volume and if history is to repeat itself and we have a huge move down like we did on October 19, 1987 then I see prices going all the way down to $10 next week. Its possible for a move of this size because SQ did drop this much on the week of May 9, 2022. The $10 target is based on a measured move of the sideways range.
With so much turmoil going on around the world and with the bond market tanking, I think the equity market has a lot to catch up to in a short amount of time. Tlt 20 year tbond etf had a No Demand up day on Friday on very low volume so its very likely to continue dropping. With interest yields rising, something has to break and I think it will the equity markets.
