Rejoice! The Summer Stock Slump is Over

A prolonged “base” in markets often sets up a stronger move once price breaks out, and the current focus is on whether that pattern is returning. After consolidating through summer, the Nasdaq 100 Index ETF (QQQ) is threatening to break out of a base lasting more than three months. If QQQ can hold above the June 3, 2026 highs at $748.65, a Fibonacci extension points to an $800 target. The piece also cites mid-term election seasonality: historically, October ranks as the best month and November second-best in midterm years. It contrasts this with energy, where the US Oil Fund ETF (USO) recently failed a breakout after selling call options resumed.