This will be interesting to see how the next few months go. I have no idea one way or another, I don't really believe anyone does, but this chart is very telling of the runup we had in QQQ with very low interest rates. Once the fed does actually begin moving, I'd expect a sharp drop off in growth stocks that rely on low interest rates if they are not making profits yet. The fed is warning of this as well, so my plan is to put money into high cash flow stocks for the time being and buy back into QQQ once we have a more stable fed rate.