Bullish Outlook With Strong Momentum

QQQ showed strong upward momentum from May 6 to May 8 with closing prices rising from near 696 to over 711. A minor pullback occurred on May 12 but the close remained above the 20 day EMA at 674.36. SPY followed a similar trend with consistent closing gains and support holding above the 20 day EMA at 718.95. VIX declined to 17.99 on May 12 indicating easing volatility expectations. Both indexes maintained all key EMAs below current price levels signaling bullish momentum.

Footnote:

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Source: Qwen

Ticker: QQQ

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