Articles tagged with QQQ

We've had plenty of bullish signals over the past year, starting with positive accumulation signals as far back as June 2022, when I called a market bottom. Sentiment was a HUGE problem to start 2022, but throughout the year, we saw exactly what we wanted to see from our 2022 MarketVision event, held back on January 7, 2022. The extreme complacency was eradicated due to the cyclical bear market that finally ended on October 13, 2022. While I had already turned bullish based on "beneath the surface" factors, ultimately we would need visual technical evidence to confirm those beliefs. On the QQQ, that technical evidence was provided last week:...keep reading

The gains made on Thursday in U.S. equities was of a historic level. The NASDAQ surged 7.35% yesterday, its best day since 2020 and one of its best days ever. It actually tied for 14th place all-time in terms of percentage gains. Its 760.97 point gain was the highest EVER. Now before you go placing buy orders, thinking this is the resumption of the secular bull market, keep something in mind. Of the top 13 biggest percentage gains in NASDAQ history, 12 of them occurred during established bear markets. I'm not trying to downplay the significance of yesterday's rally, because it was BIG technically. Rather, I'm just looking to remain objective. Here's what the QQQ now looks like:...keep reading

If you're not aware, "amateur hour" in the stock market refers to the first hour of trading, roughly from 9:30am ET to 10:30am ET. I'd extend that to perhaps 11:00am ET. Over the past few months, we've seen very bearish action on Wall Street, but you'll likely be very surprised to see how the QQQ (ETF that tracks the NASDAQ 100) has traded intraday...keep reading