QQQ — All updates

We literally said that we are targeting the QQQ index to reach its all-time high by Black Friday. We are now only 1% away from this prediction. We bought when the price dropped to 700 and sent a buy alert.

When I saw 700, I said: Buy, send the alert, and go! On Friday we talked about testing the resilience of the QQQ index and its ability to hold at 715, and it succeeded.

So, we said there was a potential bottom here when the market hit that low level, but the Nasdaq fell even further at that time.

Let's look at the Nasdaq index next. And this is the Nasdaq here, you can see it, look, this is what I'm talking about. The Nasdaq performed much worse earlier, then took this form where it bounces back and doesn't lose much ground.

Ed, that's probably a really good idea. I did not do that in my initial breakdown here today. Let's do that now. The Q's has been somewhat similar uh to the to the SPY except it's still been beneath the trend line that connects the all-time highs.

It really has not shown strength, whereas SPY in some cases has. Now today however you can see we're currently sitting here at 703. This gap down takes us through the 20 50 and 100.

It also takes us to the low from August 24th. We have a gap that fills down here which we have not filled top of this candle here 70159. I actually think we've got a gap down going here until about 7.

What was that value I just read you a second ago and could not remember. Good lord. 70159. So, I actually think that might be a support if we end up filling this gap here.

But just something to keep in mind on the Q's also having a great day today. Up about 1.1% passing that gap fill from Wednesday, right? And while we're testing all-time highs on the S&P, it's not the case on the keys.

And I talk about this so much, but the decoupling between the S&P and the Q's where the S&P is pushing towards new all-time highs. Q's are kind of stuck down here um well off down about 4% from their previous highs.

The Q's, which were pulling back, looks like that's trying to slow down, but we might not be out of the woods yet. Here's the Q sitting above the VWAP. I' I'd want to keep watching that.

By the way, Q's look like they're going to try and go higher, and that would be helped by a bounce in some of these other tech names like Oracle that we're talking about. Looks like it wants to. We'll see if it does.

And at the same time, the Q's looked like they were trying to curl here a little bit. They actually looked better than the S&P. So, looks like Q's trying to break this structure on the downside here. Uh trying to break and move back up.

so I was just going to say Q's actually looking all right here. Uh again, we did have this break of structure in the in the pre-market here. It looks like it's trying to climb back and we're above the VWAP here. This looks all right for the Q's so far.

Now, into the Qs. The Qs actually remained somewhat neutral today. You see they're down 0.08%, but if I flip to the 10-minute chart, that really all happened after 2:30. Cuz as you see here, the Qs bounced.

We actually gapped up, and then when we bounced, we went positive, and we remained positive from about 11:00 all the way until about 2:30, in which the selling just increased throughout the afternoon.

I have a bull trend and an edge on the Q's. Same deal. Higher highs and higher lows.

Um QQQ is basically at its VWAP. That's interesting.

All right. So, the bot did take some Q calls. Q's calls. Took a bit, but we got one. All right, SPY is here. So, this is the Q. So, we're long the Q calls here. It took the 712 calls, by the way. It's up slightly.

While everyone was chasing Nvidia and AI stocks this year, a boring little dividend ETF quietly passed up QQQ and the S&P 500 in 2026.

Guys, if QQQ and SPY have higher highs to make as time goes on, my guess is they'll probably outperform SCHD in the long run. But if we have a bad bare market, I really think the difference in the SCHD performance versus the S&P and the and the um and QQQ will be very very large with the SCHD dominating the other two indexes.

So, let's start with the S&P and the QQQ today. They're down, right? S&P and Q's are both down, but I want you to pay attention to something.

14 and a half, not even, but around 14.5 million shares traded on the Q's compared to 36 mil on the average for the past 30 days

If this ups sloping trend line ends up breaking, guys, I anticipate a fall closer to at least 660 on the Q's, which would be that would be pretty decent. I've spoken over the past couple weeks about how the S&P and the Q's have kind of decoupled.

So, oh man, Nvidia keeps going down and so are the cues.

The cues are tanking.

Are you calling 700 of the cues? Well, uh this morning in our alpha report, we did make a note. Let me see what I uh let me I'll go look for you. Hold on. Let me go look at the alpha report what I said this morning.

So, the Alpha Report said, "If we hear a long speech about how it's time to restore Fed credibility sooner rather than later, we go bearish down to 700 QQQ." Damn. It's not good.

Uh I mean, we're not there yet. We still We still have the 715 line, but that's funny. Um, yeah, that's that's what we had in the offer. We still have 715, so hopefully, you know, we can still bounce off of that.

Into the queues, you can see here, too, much like on the S&P 500, didn't really do too much today. It did finish up .09% but really just kind of closing in line with price action yesterday.

Now, the queues are starting to start to form a little bit more bearish consolidation. The last six trading days or so have been diagonally moving down. This needs to end up stopping, put in some sort of consolidation, and then it can make another leg lower.