I often refer to QQQ as XLK with an Amazon kicker as QQQ is very top-heavy in the same handful of leading technology companies as XLK. A break below the 62.50 level is likely to bring XLK (Technology Sector ETF) down to the 61.20 level. Likewise, a break below 152 is likely to bring QQQ (Nasdaq [...]
Technical analysis of the US stock market via QQQ & SPY along with the 11 sectors that comprise the S&P 500 Index. Playback speed can be increased by clicking on the settings icon at the lower right corner of the video in order to reduce playback duration.
The following notes & charts highlight my outlook, including price targets for SPY (S&P 500 tracking ETF) along with the tracking ETFs of the four largest sectors with the S&P 500.
The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities. There is over USD 7.8 trillion benchmarked to the index, with index assets comprising approximately USD 2.2 trillion of this total. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization. (source: S&P Dow Jones [...]
Lots to cover today so I'm going to try to wrap up some of the more significant recent technical developments in this one update. Starting with the SPY & QQQ, both are experiencing impulsive selling so far today following the recent breakdown & back-test of this bearish rising wedge pattern which helps to validate the [...]
I received the following question regarding the TECS / XLK Active Swing Trade: "Randy what are your thoughts on the official TECS trade at this point? If we see that last thrust up in the market next week, that will most likely trigger the stop on TECS as we are quite close to it already. [...]
Technical analysis including key support levels & chart formations on all 11 sectors of the S&P 500 Index in descending order by weighting. Click on first chart to expand, then click anywhere on the right of each expanded chart to advance to the next chart. Once expanded, each chart can be zoomed & panned for [...]