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Invesco QQQ Trust Series 1
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QQQ
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$538.15
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+0.55%
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$536.01
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$538.84
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$535.67

Mark L. Newton, CMT AC
Head of Technical Strategy
Fri, February 14, 2025 | 12:01PM ET
My technical thoughts are that this breakout should be led by Big-Cap Technology and QQQ0.55% looks to the leader over SPY0.03% as well as RSP-0.26% . Furthermore, SPY0.03% looks to lead RSP-0.26% in relative strength until potentially mid-year, based on my interpretation of possible exhaustion counts setting up on these ratios. Thus, while many fret about valuation, or the degree of consecutive days of rally in stocks like META1.31% , it should be right to favor the leaders, and expect that QQQ can continue to lead the US stock market, with Technology which powers QQQ showing better relative strength than many of the other sectors or indices

Mark L. Newton, CMT AC
Head of Technical Strategy
Thu, February 13, 2025 | 4:09PM ET
QQQ0.55% has also broken out after two months of churning. This should lead back to 548 initially, and eventually up to near 565-70.

Mark L. Newton, CMT AC
Head of Technical Strategy
Thu, February 13, 2025 | 3:08PM ET
We're seeing breakouts today in ^SPX-0.01% as well as QQQ0.55% which are very favorable towards thinking the back half of February could be quite good. Note, Equal-weighted S&P, nor DJIA, nor DJ Transports nor IWM have achieved this move, but it's important for risk assets and closing above 6101.28 in SPX and 534 in QQQ are what i was looking for to confirm price-based breakouts in US stock indices. While US Treasury yields are not breaking out and might take some time, the US Dollar is breaking down as Stock indices break out. I'll detail more later, but holding current levels is a very good sign in my view for the days and weeks ahead

Mark L. Newton, CMT AC
Head of Technical Strategy
Thu, February 6, 2025 | 3:33PM ET
Some minor stalling out in ^SPX-0.01% today as we see SPX largely flat and both SPX and QQQ nearing trendline resistance of the consolidation pattern from Late January in SPX and mid-December in QQQ0.55% . Trend overall remains choppy, not really bullish nor bearish, but the most that Market bears can argue for in all likelihood is 6007, or 6025 to retrace some of the last few days before price pushes up to new highs. The next big move, arguably, should be higher, not lower, though some consolidation certainly possible over the next 3-5 trading days

Mark L. Newton, CMT AC
Head of Technical Strategy
Tue, January 21, 2025 | 11:37AM ET
Early gains this morning have moderated a bit, which has less to do with political reasons & more to do with just 5 out of 6 days of gains reaching resistance for ^SPX-0.01% near 6021 and some evidence this morning of both US Dollar as well as TNX starting to stabilize. Still a very good day for Equal-weighted S&P 500, which is up nearly +0.92%, but most concentrating on QQQ note that QQQ0.55% is up just +0.11%. Today's gains are largely defensive, with REITS, Utilities, and Healthcare leading all greater than 1%, while Energy is the big laggard, with Crude declining nearly 2% on the day. For now, no evidence of a reversal which was thought possible this week technically, but this would be more on the radar on SPX decline under 5963

Mark L. Newton, CMT AC
Head of Technical Strategy
Thu, January 16, 2025 | 12:30PM ET
AAPL1.35% decline today is a minor negative given its weight within ^SPX-0.01% and QQQ0.55% and as daily charts show, the stock is set to make the lowest daily close since mid-November. Given AAPL's importance within SPX, this stock remains important to concentrate on, and will need to stabilize before being able to suggest that a move back to new highs is imminent. Under 230 might very well lead to 220 in short run, but would be a very attractive risk/reward on any further weakness that undercuts 225 and will be right to watch for signs of bottoming.

Mark L. Newton, CMT AC
Head of Technical Strategy
Tue, December 24, 2024 | 11:59AM ET
^SPX-0.01% growing near short-term targets, higher by +0.70% on this holiday shortened session while QQQ0.55% up around 1%. Market breadth is around 2/1 positive, with Tech, Energy, Discretionary all up more than +0.50% and REITS are the only down sector of the major 11 Equal-weighted S&P 500 ETF's today. Equal-weighted SPX is up around +0.36%, roughly half of SPX gains and both TNX and DXY are marginally positive. SPX is thought to face strong resistance near 6035, only 16 points higher as bounce looks to have unfolded (currently) as a three-wave counter-trend bounce to the five-wave decline which ended last Friday morning. While it was thought that a bounce could happen from last Friday's lows, the real test will happen between now and end of year as the near-term technical structure is not as ideal as what many might think given the rapid snapback. Important areas of support are found at SPX 5902, while 516 is important for QQQ. Any breach of these levels would result in a minor move back to new lows for December, which should mark an attractive entry point for a 1st Half rally in 2025. To have confidence of a continued push to new highs, than SPX will require a move back above 6055 while QQQ requires a move over 535. However, short-term resistance for QQQ lies at 530.9, roughly two points higher.

Mark L. Newton, CMT AC
Head of Technical Strategy
Wed, November 27, 2024 | 1:16PM ET
Fractional weakness in US Equities today which is nearly all been driven by Technology, which is down -1.9%. Five sectors are lower today while six are higher but no sector is down more than -0.20% today except for Technology. Meanwhile, REITS, Utilities and Healthcare are showing the best gains. For QQQ0.55% , this failed in its initial attempts to join the SPX back at new highs, but cannot be called too bearish until/unless 499.50 is broken, which would undercut the rising uptrend line. The additional area of importance lies at 494.49, or near 11/15 lows, which has more structural importance

Mark L. Newton, CMT AC
Head of Technical Strategy
Tue, November 26, 2024 | 12:45PM ET
NVDA2.89% pulled back yesterday under 137 and is having a dampening effect on QQQ0.55% which has diverged a bit from all-time highs. Yesterday's break likely does lead NVDA down to 132 or even a bit lower to 128 before this stabilizes. NVDA is the largest stock within SPX by market cap and while Technology has rebounded this past week, Equal-weighted Tech has done far better than Large-cap Tech and "Magnificent 7" by nearly 300 bps this past week in performance. The key takeaway here is that Cyclicals are outperforming while big-Cap Tech has lagged lately

Thomas Lee, CFA AC
Head of Research
Wed, November 20, 2024 | 5:29PM ET
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Last updated: 2025-02-17 16:30:01