$Invesco QQQ(QQQ)$ US futures opened firm and are inching higher, setting up for another record run in June. This is ‘undisputed’ as noted by market watchers. Some investors are cautioning against new short positions ahead of Broadcom's earnings on Wednesday—expected to be another blowout—which could propel QQQ toward the $756-$778 range by later this week, a view shared by many experienced analysts. Overall, this market has further room to gain. We might look at new short entries once we see some signals of ‘consolidation’ on pullbacks, but not yet.
$Invesco QQQ(QQQ)$ Good news to report—analysts expect a peace deal announcement soon. That said, we anticipate US markets will maintain momentum on AI optimism, with the peace deal adding further fuel. We hope investors see this clearly—it's unequivocally a continued momentum-driven market. Further gains are ahead. Our analysts have just revised QQQ pricing due to MU's recent repricing, expecting QQQ to trade between $763 and $775 by the time of the peace deal announcement.
$Invesco QQQ(QQQ)$ If the AI singularity is approaching, then a five-year price target of 50,000 for QQQ seems plausible. That would imply it's currently undervalued by about 98.6%.
$Invesco QQQ(QQQ)$ Futures pointing to a strong open. One thing to note. The conflict is now expected to be ‘resolved’ — not ‘if’ but ‘when’. Even disregarding the ‘when’, the US market continues its bull run momentum into year-end. Another short-term reminder: later this week, with a potential peace deal announcement over the weekend, no one would want to be left out. The theme now is ‘accumulate into year-end for further gains ahead’. Good luck all.
$Invesco QQQ(QQQ)$ JP Morgan has a case for the S&P 500 reaching 9,000 by the middle of next year. Looks like the rally could continue beyond the midterms.