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Nasdaq 100 Index ETF QQQ: In Jeopardy?
​June 29 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 but since June 9, they have been into a tint correction technical pattern.
​Trading now into a downtrend ​channel  for QQQ ETF.
​(See First Chart Below - Channel)​

QQQ ETF is at 2.9% below the 200 DMA ​(Day Moving ​Average) as of the close of
​June 16 and SPY ETF is far away at 0.5% above it s 200 DMA.​

​​QQQ ETF broke on Jun 24 a Major Support Trendline from a wedge that started back ​since ​
​February 11 2016  (See First Chart Below - Bottom Red Trendline - Ellipse) ​and into a higher volume environment.​

​​But few of us realize ​the ​underperformance of the Nasdaq ​100 Index​ ​(QQQ ETF) ​compare to the Mighty SP500 Index (SPY ETF) on a relative basis lately as we ​are still into a Downward Channel that started back since December 2015. ​
​(See Second Chart Below - Channel - Ellipse)

​​But the real interesting part is to acknowledge that the under performance lately of the QQQ ETF comes mainly from the proportion of Apple Shares within the index at 10.50% and only 3.03% for the SPY ETF.  Apple Shares have lost 6.8% since May 26 2016.

​The market isn t in favor for the technology stocks over the broad stock market indices lately. As history repeat itself, we must be aware that this Major Support Trendline on a relative basis is the last call for Bulls for the Nasdaq 100 Index. ​
​(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 a its lowest since the beginning of 2015. As the QQQ ETF is in compression mode, it won t last long. (See Third Chart Below - Blue Line)
​​

Nasdaq 100 Index ETF QQQ: In Jeopardy?   $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