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Nasdaq 100 Index ETF QQQ: Runaway Train?
​January 30 2017 ( From TradingView )
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Financial assets like the SP100 Index (OEF ETF) had a very good ​
​performance ​indeed ​since bottoming out just before the US Election
​on November 4 2016 (+9.5%) as even ​the Nasdaq 100 Index (QQQ ETF) ​
​joined the party (+10.7%),  ​QQQ ETF is Outperforming the Mighty OEF ETF.
​​It did break the Resistance of a Steep Uptrend ​channel for QQQ ETF and
​Bulls need to protect this Trendline of that Channel at all costs.​

​(See First Chart Below - Uptrend Channel - Red Trendlines)​

QQQ ETF is at +9.6% above the 200 DMA ​(Day Moving ​Average) as of the
​close of ​January 27 and OEF ETF is only at +6.0% above it s 200 DMA.​


​​But few of us realize ​the ​Weekly outperformance of the Nasdaq ​100 
Index​ ​(QQQ ETF) ​compare to the Mighty SP100 Index (OEF ETF) on a relative basis since December 12 2016 week after testing a Major Support Trendline that started back since November 2008!. ​​(See Second Chart Below - Blue Trendline - Ellipse)

​​​The market is in favor for the technology stocks over the broad stock market indices lately. As history repeat itself, we must be aware that this Support Trendline on a relative basis was the last call for Bulls for the Nasdaq 100 Index as it was tested on December 12 2016 and rebounded strongly since then to reach the previous congestion zone. 
​ ​(See Second Chart Below - Yellow Trendline)

What is quite interesting, is that the 20 DMA on the relative volatility (ratio of Nasdaq 100 Volatility Index over the SP100 Volatility Index) is almost at its highest since September 13 2016. As only a few big names makes this index (top 5 AAPL, MSFT, AMZN, FB and GOOG makes 35.9% of the weight on the QQQ) compare to only +17.2% for the OEF ETF, the QQQ ETF relative volatility won t last long at that level since we ve been on a steep rise since November 4 2016. ​(See Third Chart Below - Orange TrendLine )

What strikes me the most, ​​is at a time were relative volatility is on the high side, QQQ ETF is making new highs price wise and is in the process of testing a Monthly Major Resistance Trendline that started back since October 2007! Remind me of a Runaway Train the performance lately... (See Fourth Chart Below - Yellow Trendlines)
​​

Nasdaq 100 Index ETF QQQ: Runaway Train? $COMPQ  #Trading #nasdaq #investing #sp500  #spy #stocks

Financialiceberg.Com
Weekly RATIO
Nasdaq 100 Index ETF ( QQQ )
over SP100 Index ETF ( OEF ) 
​4 DMA ( Week Moving Average - Yellow Line )​
12 DMA ( Week Moving Average - Red Line )​​
52 DMA ( Week Moving Average - Green Line )​

Financialiceberg.Com
Daily RATIO (Blue Line)
Nasdaq 100 Index ETF Volatility (VXN)
over SP100 Index Volatility (VXO)
​20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​


Financialiceberg.Com
Daily Chart ( Candles )
Nasdaq 100 Index ETF ( QQQ )
20 DMA ( Day Moving Average - Yellow Line )​
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​​​


​Monthly Chart ( Candles )
Nasdaq 100 Index ETF ( QQQ )


Financialiceberg.Com