MarketWatch: “Popular QQQ ETF faces a crucial moment with Nvidia earnings on deck after its rare pullback”
By datatrekresearch in IN THE NEWS
Excerpt from MarketWatch quoting DataTrek's Jessica Rabe:
...."The Invesco QQQ Trust Series is down 3.2% over the last 50 trading days, DataTrek co-founder Jessica Rabe said in a note emailed Wednesday. That’s “unusual because the Nasdaq-100 has an excellent win rate,” making money 74% of the time over any given 50-day holding period since 2015, she wrote...
...“On the plus side, the QQQ’s recent 50-day returns are below the average drawdown, suggesting markets are looking past occasionally troubling macro headlines,” said Rabe.
“On the downside, the Nasdaq-100 will likely keep churning until U.S. Big Tech can prove their AI spending will pay off,” she noted. “Either that, or a new positive catalyst — such as their curtailing expected AI capex — comes along to give the QQQs some positive momentum"....
Full article here on MarketWatch.
