Nasdaq-100 Index ETF
Investment Thesis
QQQ sold off -4.5% on June 5 with nearly 3× average volume, snapping back from its 52-week high of $746.16 all the way to the $700–$705 May consolidation support zone. RSI reset to neutral (48) while the golden cross and outperformance vs. SPY remain intact — classic conditions for a dip-buy into support.
Catalysts to Watch
June 5 high-volume (-4.5%, 99M shares vs. ~35M average) reversal candle from 52-week highs brought QQQ back to key May support ($700–$705), resetting RSI to 48 and triggering a MACD bearish histogram cross — creating a defined-risk dip entry at structural support.
Why It May Work
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Timeline
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