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Nasdaq 100 Index ETF QQQ: Outperforming SPY?
July 26 2016 ( From TradingView )
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The Situation
Financial assets like the SP500 Index (SPY ETF) had a very good
performance indeed since bottoming out on February 11 2016 as even
the Nasdaq 100 Index (QQQ ETF) joined the party and since June 24,
QQQ ETF is Outperforming the Mighty SPY ETF.
Trading now into a tiny Uptrend channel for QQQ ETF.(See First Chart Below - Channel)
QQQ ETF is at +5.0% above the 200 DMA (Day Moving Average) as of the
close of July 25 and SPY ETF is further away at +6.3% above it s 200 DMA.
But few of us realize the outrperformance of the Nasdaq 100 Index (QQQ ETF) compare to the Mighty SP500 Index (SPY ETF) on a relative basis since June 24 after testing a Major Support Trendline that started back since November 2008!. (See Second Chart Below - Red 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 June 24. (See Second Chart Below - Red Trendline - Ellipse)What strikes me the most, is that the relative volatility (ratio of Nasdaq 100 Volatility Index over the SP500 Volatility Index) is almost at its highest since June 24. As a few big names reporting earnings this week, the QQQ ETF relative volatility won t last long at that level as we are near testing the Major Resistance Trendline that started since April 2014... (See Third Chart Below - Blue TrendLine - Ellipse)
Nasdaq 100 Index ETF QQQ: Outperforming SPY? $COMPQ #Trading #nasdaq #investing #sp500 #spy
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 )
Financialiceberg.Com
Daily RATIO
Nasdaq 100 Index ETF ( QQQ )
over SP500 Index ETF ( SPY )
20 DMA ( Day Moving Average - Yellow Line )
50 DMA ( Day Moving Average - Red Line )
200 DMA ( Day Moving Average - Green Line )
Financialiceberg.Com
Daily RATIO (Blue Line)
Nasdaq 100 Index ETF Volatility (VXN)
over SP500 Index Volatility (VIX)
20 DMA ( Day Moving Average - Yellow Line )
50 DMA ( Day Moving Average - Red Line )
200 DMA ( Day Moving Average - Green Line )
Financialiceberg.Com
