Nasdaq-100 Index ETF
Investment Thesis
QQQ bounced ~8.6% from the March 30 low and reclaimed both the 50-day and 200-day moving averages, while a single-session breadth thrust (% of S&P 500 stocks above their 50dMA jumped from 31% to 48.4%) provides powerful confirmation. Elevated put/call ratios add contrarian fuel for a continuation toward the 52-week high at $635.
Catalysts to Watch
QQQ reclaimed SMA50 ($601.50) and SMA200 ($595.95) after an ~8.6% bounce from the March 30 low of ~$558; % of S&P 500 stocks above their 50dMA surged from 31% to 48.4% in a single session — a textbook breadth thrust signal.
Why It May Work
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Timeline
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