Invesco QQQ is an exchange-traded fund that tracks the Nasdaq-100 Index™.
The Index includes the 100 largest non-financial companies listed on the Nasdaq based on market cap.
The Invesco QQQ Trust has been delivering superior returns for several years, easily outperforming SPY and other S&P 500 funds.
QQQ has been rising high for so long that it's only natural to wonder if it's due for a correction. Unless you count the very brief correction of 2020, tech stocks have been in a raging bull market for over a decade. QQQ - which tracks the NASDAQ-100 - has been a main beneficiary of that trend.
According to Invesco, the average bull market lasts 4.83 years.
QQQ has been mostly rising for more than twice that time.
History would tend to suggest that it's in for a possible correction.
So, lets take a look at the technicals.
QQQ is currently sitting in a upwards channel which ended up bouncing off support on the daily.
It’s a good idea to keep your eyes on this chart especially if price ends up breaking support or resistance which can give you a good idea of where the future will lie.
RSI recently out of oversold territory
MACD curling w/ a expectation of a continuation up.
Watchlist this.
The Index includes the 100 largest non-financial companies listed on the Nasdaq based on market cap.
The Invesco QQQ Trust has been delivering superior returns for several years, easily outperforming SPY and other S&P 500 funds.
QQQ has been rising high for so long that it's only natural to wonder if it's due for a correction. Unless you count the very brief correction of 2020, tech stocks have been in a raging bull market for over a decade. QQQ - which tracks the NASDAQ-100 - has been a main beneficiary of that trend.
According to Invesco, the average bull market lasts 4.83 years.
QQQ has been mostly rising for more than twice that time.
History would tend to suggest that it's in for a possible correction.
So, lets take a look at the technicals.
QQQ is currently sitting in a upwards channel which ended up bouncing off support on the daily.
It’s a good idea to keep your eyes on this chart especially if price ends up breaking support or resistance which can give you a good idea of where the future will lie.
RSI recently out of oversold territory
MACD curling w/ a expectation of a continuation up.
Watchlist this.