A mature uptrend as the drive cools
QQQ (Nasdaq 100): the rally pulls back from the record as momentum cools
A mature uptrend as the drive cools
Our view last week
The QQQ, an ETF tracking the Nasdaq 100 — weekly technical analysis: week 12 of a buy signal, up 11.81%, with the ETF back within roughly 3% of its all-time high. Versus a week ago, price has pushed toward the record again, powered by a daily that has reignited — a double bottom in the 694 area and buyers taking more than 90% of volume. On the weekly, though, the MACD histogram has fallen for a month. Structure holding, underlying drive thinning: a mature uptrend to walk along with care.
This week's summary
The QQQ, an ETF tracking the Nasdaq 100, pulls back from its record just as the drive fades: in this week's technical read, at week 13 of a buy signal the gain eases from 11.81% to 7.16% and price slips to a touch below 8% from the all-time high. A daily double bottom in the 687 area cushioned the drop with a 9% rebound, but the weekly shows a MACD histogram pinned near zero and price action turned lower. A mature uptrend, to manage with care.
IQS Phase
45
ordinary
Signal Strength
62
medium
ATH distance
7.67%
7.67%
KPI 4
0/3
Trade P&L %
+7.16%
from signal to today
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