The bald eagle can fly, but US markets seem to put it to shame, flying even higher, with QQQ taking the lead. A National Symbol change may be in order here, but I digress.
Since the mid-April lows just below $84, QQQ is now up over $14. Quite a run, no doubt.
Notably, the 50 Day MA is approaching the late June $93 congestion zone on the chart.
Despite the continued rise in QQQ , the is pointing down, so what we're really seeing here is a market trapped in a range trade on the daily time frame, with the bulk of the recent trending move higher behind us for now.