Bullish Reversal Intensifies

QQQ has staged a strong recovery from a pullback, clearing key moving averages and closing decisively above them. After falling below the 50-day EMA on June 10, the index surged back above all near-term EMAs and closed sharply higher on June 11 and June 15. The 744 close on June 15 marked a new short-term high, breaking resistance and signaling renewed bullish momentum. SPY followed a similar pattern, reclaiming its 50-day EMA and moving higher alongside QQQ. VIX declined steadily from 17.68 to 16.41, supporting the risk-on sentiment. Both ETFs remain above key longer-term averages, reinforcing the higher-timeframe upward bias.

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Source: Qwen AI

Ticker: QQQ

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