QQQ dropped ~10% in Aug-Oct 2023 for reasons that feel similar to today

Lately the setup feels a lot like Aug - Oct 2023, when QQQ/Nasdaq pulled back \~10% without anything actually “breaking.”

Back then it wasn’t one big headline that caused the drop. It was more a slow grind..

\- Rates stayed higher for longer than people wanted (now: Warsh).

\- Economic data kept coming in strong, so rate cuts kept getting pushed out.

\- Overt geopolitical tensions and uncertainty.

\- Nasdaq had already ripped, AI hype was hot, and the market needed to cool off.

Fast forward to now and a lot of that feels familiar.

WDYT?