Cautious Outlook with Weakness in Tech
QQQ showed signs of exhaustion after a strong rally into early June
Price broke below key EMA supports including the EMA20 and EMA9
The drop accelerated on June 5 with the lowest close of the period
VIX spiked from 15 to over 21 signaling rising fear
A modest recovery in price on June 8 failed to reclaim structure
All major EMAs remained flat indicating lack of new momentum
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Source: Qwen
Ticker: QQQ
Top ETF Picks by Sector
- DIA (Industrials) Score: 10, Strength:21
- MTUM (Technology) Score: 9, Strength:28
- XLV (Health Care) Score: 9, Strength:15
- XLE (Energy) Score: 9, Strength:11
- SMH (Growth-Large) Score: 8, Strength:32
- RSP (Core-Large) Score: 8, Strength:20
- VTV (Value-Large) Score: 8, Strength:19
- XSLV (LowVol-Small) Score: 8, Strength:16
- XLRE (Real Estate) Score: 8, Strength:14
- XLF (Financials) Score: 8, Strength:10