QQQ - Second Time In A Decade

2023-06-16

QQQ $Invesco QQQ Trust(QQQ)$ - Second Time In A Decade

The impressive three-month rally has been primarily driven by the performance of QQQ, surpassing all major indexes year-to-date. It is important to conduct a periodic review of the index rally's extension, considering that it is generally not advisable to purchase stocks that have become excessively extended in their price.

Moreover, it is prudent to be mentally prepared for a potential correction, considering historical precedents of such occurrences.

Currently, QQQ is trading at a substantial distance of nearly 10% from its 50-day exponential moving average (50-EMA).

It only happened once in the last 10 years (09/2020), before a subsequent -14% 3 weeks pullback.

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