Get started
dokacc

Parabolic move in QQQ due to overweigthing of mega-caps and "AI"

Invesco QQQ Trust, Series 1 (NASDAQ:QQQ)  
dokacc  
NASDAQ:QQQ   Invesco QQQ Trust, Series 1
Technical Indicators Beyond Technical Analysis
0
0
indicator beyondta
While the magic 7 of the mega-caps are responsible for all gains in the QQQ in 2023, the broad market is in an ongoing bear market and bounced off the lows. This ongoing bear market is masked by the massive overweighting of mega-caps, which are now producing "AI", in the indices. In this situation, I am tempted to short the near term parabolic move in the QQQ.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.