My previous thesis played out perfectly on this in 2022 (see profile).
Now, we have sharply flipped after getting close to the bottom of the channel on this key pair trade.
The beautiful breakout, with a confirmation pullback, suggests the outperformance of QQQ over SPY will continue and the breakout of the channel which occurred in 2020 is here to stay.
Given this is a sharp breakout, it suggests a significant bull-run which catches everyone off-guard (like 1999) is also possible.
As a long-term investor, QQQ is a better bet than SPY in my opinion.