Extended QQQ Rally Nears Historical Limits—Is a Pullback Ahead?
This is a plot of $Invesco QQQ(QQQ)$ and its breadth NDFI ( QQQ % Stocks above 50-MA or 10-Week MA) since 2022. QQQ is the strongest cap/equal-weight market index currently.
QQQ resilience actually brings its NDFI breadth to the 9th session exceeding 10 x ATR% multiple from 50-MA.
Have a look at the last 4 occurrences since 2022. This kind of extension could last up to 16 sessions, but historically, it always pulls back eventually.
In swing trading, it’s crucial to assess whether we have potential tailwind pushing us forward or a headwind pushing against us in the near term.
Image
For whom haven't open CBA can know more from below:
🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK, US stocks as well as ETFs unlimitedly!
Find out more here：
Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading.
💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
