Chart In Focus

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July 10, 2020

Traders Chase QQQ, “The Only Thing Working”

The stock market rally went into pause mode in June, or at least that is the case as measured by the SP500’s behavior.  But traders are still piling into the tech stocks which dominate the Nasdaq 100 Index.  The operative logic is to chase what is working, for as long as it is working.  And that logic is working at the moment. The chase into the big tech stocks has pulled investors into QQQ, the big Nasdaq 100 ETF.  That has pushed up the number of shares outstanding in QQQ to a multiyear high, and well above the upper 50-1 Bollinger… more


Past Charts in Focus

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