Investing.com investing.com 03 Jan, 2021 07:45 am

2020: Year Of The Long, Long Wicks

2020:  Year Of The Long, Long Wicks
Stocks Analysis by Tim Knight covering: Nasdaq 100, XAU/USD, Dow Jones Industrial Average, US Small Cap 2000. Read Tim Knight's latest article on Investing.com

p What’s intriguing about the NASDAQ ETF (NASDAQ: QQQ ) is how it has consistently gone up for literally a dozen years in a row.p Because the NASDAQ 100 has been around longer than the QQQ itself, this chart shows how the past dozen years of “up all the time” is quite similar to what was going on in the 1990s.This year was remarkable in the sheer length of the upper wick and the fact that its peak matched that of the global financial crisis in late 2008.p The Dow Industrials (NYSE: DIA ) have gone up year after year since the financial crisis, with 2018 being the year that it seemed to even wobble a little bit.

p In turn, the oil and gas producers (SPDR® S&P Oil & Gas Exploration & Production ETF (NYSE: XOP )) fell.In the parlance of candlestick charting, a “wick” is the skinny line protruding either above or below the color rectangle (known as the “body”), and long wicks typically denote volatility and uncertainty.

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