NASDAQ:QQQ   INVESCO QQQ TRUST UNIT SER 1
Generally how I see QQQ momentum looking like for V recovery with the pull back re-test. Looking really bullish with V recovery in progress and price above the price volume profile there should be little resistance above. Last 2 days had nice buying volume , ideal and close above what looks like a fairly significant price level. Looking at the 1.272 fib extension

Comments

Correct. The W is not coming so no double-dip but bears can dream. If it happens, it happens, but I don't think we will be so lucky. We already got a once in a lifetime buying opportunity. The odds of it happening again seem impossible. The recovery is V as we are being propped up by the FED perpetually which is resulting in massive FOMO and everyone is rushing in now. The second wave will not move the market much as one can only cry wolf so often. Investors will not take the bait the second time around despite the Mainstream Marxist Media doing everything possible to strike fear and panic into the sheep. A quote I read the other day and liked:

“No other choice, Only Game in Town, No matter how you say it - retirees will keep their money in the market. There may be some manipulation along the way but stocks will remain the primary vessel for preserving value. If the law allowed direct investment in RE from retirement accounts the market would collapse and never recover. Good thing Wall Street continues to pay it's dues to congress. It took a "plague scare" to put a dent in the market. But now everybody is finding out it was mostly all WHO nonsense! Even the densest among us San Franciscans and New Yorkers are waking up. Looks like the Democrat party is going to exit like sh*t through a goose.”

On top of all that, we are moving to a Read Player One society where Big Tech controls all. No chance QQQ tanks again. Big Tech stocks are the new utility stocks and everyone is rushing in now as QQQ is viewed as a safe haven ETF / asset, safer than anything out there.

- Micron earnings cited strong data center.
- Intel earnings very strong data center.
- Nvidia investor day cited very strong data center
- Internet usage at Shopify and Target noted hitting black Friday and cyber Monday level traffic every day of the week in April.
- telcoms such as Verizon have seen noted similar spikes in streaming, gaming, and online usage
- gaming sales just reported best month in 12 years.
- Facebook earnings up 2%
- Microsoft earnings up 11%
- Tesla earnings up 4%
- Apple better than expected
- Drizly, Bevmo, Onehope Wine revenue up 300% - 730%
- Instacart, Grubhub, Doordash have 10x as many deliveries
- Nintendo Switch sales through the roof
- WeedMaps at capacity, their database crashed last night from all the people ordering weed online etc..
Internet usage and the capacity needed as everyone works from home, streams video, plays games, and browses social media is exploding. I think this trend will only increase as the WFH model is proven to work and companies decide to ditch their $100k / month rent on fancy offices when they realize they can save millions by having a smaller office with majority WFH. And as we saw last week, Google, Facebook, and Twitter have done just this. They are allowing employees to work from home indefinitely which === BIG MONEY for Big Tech.

Nasdaq will hit 12,000 EOY. QQQ over $300, sooner than you think.
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