Bullish QQQ breakout

• QQQ surged above $630 on Jan 30, confirming a breakout from a symmetrical triangle and signaling a likely move toward $650‑$655 into late February.
• SPY stayed near its recent highs (~695‑696) but lagged the tech‑driven rally.
• EMAs for both ETFs remained flat, indicating a pause before the next leg up.
• VIX slipped to the low‑17s, reflecting lower implied volatility.
• Sector rotation: strong gains in Technology, Materials, Energy and Consumer Staples; defensive strength could be a warning sign if it continues.
• Fed left rates unchanged, reinforcing a dovish tone that supports short‑term equity upside.
• Outlook: short‑term bullish bias for QQQ; SPX may test 7,050 before a potential consolidation in mid‑February.

SOURCE: AI

TICKER: QQQ