Nasdaq 100 · final week of observation
QQQ (Nasdaq 100): a tech rebound leaves the sell signal without confirmation
Nasdaq 100 · final week of observation
Our view last week
The QQQ, the Nasdaq 100 ETF, keeps its weekly sell signal under observation: confirmation hasn't come, price is up 0.55% since the signal, and the verification week closed higher. On the daily, meanwhile, 3 lower highs now stand out, from the 726 handle down to 710, and the MACD histogram has dropped below zero. Weekly technical analysis of QQQ frames a buy cycle out of steam and selling pressure that is still thin: 2 weeks remain before the window expires.
This week's summary
The QQQ, the Nasdaq 100 ETF, just lived its rebound week: technology, more than half the basket, gained 7.20% and daily buyers took 91.57% of turnover. Seven days ago the return since the sell signal was +0.55%; now it stands at +5.67%, pushing confirmation further away just as the final observation week opens. Weekly technical analysis of QQQ reads a downside that never got going, with Signal Strength at 2 out of 100.
IQS Phase
33
ordinary
Signal Strength
2
low · fading
ATH distance
3.54%
3.54%
KPI 4
0/3
restricted Platinum content