Relying on reversals

Many times over the years, we've highlighted the danger of relying too heavily on single-day reversals to suggest a change in trend. They're highly unreliable. Take Tuesday in the Nasdaq 100 fund, QQQ. It gapped down more than -1.5% at the open then rallied to close down less than 0.25% while hitting a 1-month low at its trough. It looks pretty on a chart but it has not been a good reason to expect the reversal to hold.