Argument for being long, statistically, previous recessions bottomed at these levels
With small caps gaining relative tech the Summer of 2020, QQQ/IWM lagged and continues to lag. If you find yourself wanting to go long QQQ/IWM, I would wait a bit more. The 1-week timeframe supports long entries after two signals converge, (1) MACD upside cross, and (2) a MACD return above zero.
On a weekly timeframe, the MACD crossed over to the downside in Late Summer/Fall. Pullback, pause, correction?
Bullish on SPCE given the new CEO and the current upside momentum