Bullish Reversal Likely

QQQ closed above its 20 day EMA on July 9 after a three day pullback. Price found support near the 50 EMA around 710 and staged a clear recovery. Volume and momentum improved with higher closes on July 8 and July 9. SPY followed a similar pattern closing above its 20 day EMA and holding above its 50 day EMA. VIX declined to 15.84 indicating reduced fear in the market. Both indices showed resilience despite early week weakness.

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Source: Qwen

Ticker: QQQ

Top ETF Picks by Sector

1. USMV (LowVol-Large) Score: 13, Strength:21
2. XLF (Financials) Score: 11, Strength:33
3. SPY (Core-Large) Score: 11, Strength:22
4. XLE (Energy) Score: 11, Strength:21
5. IGV (Growth-Large) Score: 11, Strength:13
6. VYM (Quality-Large) Score: 11, Strength:12
7. GRNY (Technology) Score: 11, Strength:11
8. XLV (Health Care) Score: 10, Strength:27
9. DIA (Industrials) Score: 10, Strength:21
10. RSP (Core-Large) Score: 10, Strength:12
11. XMHQ (Quality-Mid) Score: 10, Strength:11
12. VO (Core-Mid) Score: 10, Strength:10
13. VWO (International) Score: 9, Strength:17
14. VTV (Value-Large) Score: 9, Strength:13
15. XSLV (LowVol-Small) Score: 8, Strength:31
16. IAUM (International) Score: 8, Strength:29
17. BTCO (Technology) Score: 8, Strength:27
18. XSHQ (Quality-Small) Score: 8, Strength:16