Cautious Outlook After Tech Rally Reversal
QQQ staged a sharp reversal on May 20 after reaching highs near 713.15 before collapsing to sub-550 levels intraday — a move suggesting extreme volatility and possible data feed error or systemic event. The following days showed partial recovery with closing prices settling back above 700 but below the 50 EMA at 669.02, indicating lingering bearish pressure. SPY mirrored the pattern with strong gaps lower then rebounding above 740 by May 22. EMA structures for both ETFs remain unchanged over the period, with SPY resistance near 748 and QQQ near 718. VIX declined from 17.44 to 16.70 over the three days, signaling reduced fear despite steep price swings.
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Source: QQQ data reflects real-time intraday fluctuations with a potential data anomaly on May 20 at 17:10:11
Top ETF Picks by Sector
- SPY (Core-Large) Score: 11, Strength:26
- VOO (Core-Large) Score: 11, Strength:26
- QQQ (Technology) Score: 10, Strength:36
- SPMO (Momentum-Large) Score: 10, Strength:33
- CGDV (Technology) Score: 10, Strength:30
- XLRE (Real Estate) Score: 10, Strength:16
- USMV (LowVol-Large) Score: 9, Strength:18
- XSHQ (Quality-Small) Score: 9, Strength:17
- XSLV (LowVol-Small) Score: 9, Strength:16
- VYM (Quality-Large) Score: 9, Strength:14
- XLF (Financials) Score: 9, Strength:10
- VXUS (International) Score: 9, Strength:9
- FMTM (Growth-Large) Score: 8, Strength:22
- XLU (Utilities) Score: 8, Strength:21
- IWM (Industrials) Score: 8, Strength:17
- DIA (Industrials) Score: 8, Strength:16
- XLE (Energy) Score: 8, Strength:16
- VTV (Value-Large) Score: 8, Strength:14
- XLP (Staples) Score: 8, Strength:14
- SCHY (International) Score: 8, Strength:13
- XLV (Health Care) Score: 8, Strength:12