Bullish Outlook as QQQ Gains Momentum
QQQ shows a strong recovery with closing above key resistance at 721 over the past two sessions. Price action has shifted higher from the low of 700.91 on July 8 to close at 725.51 on July 10. The EMA cluster remains flat near 720 with no significant divergence, supporting continued upward momentum. Volume and strength in the Nasdaq 100 have narrowed the gap versus SPY, and both indices are aligning as SPY also pushes toward new recent highs. VIX has declined steadily, falling from 16.90 to 15.03 over three sessions, reflecting reduced investor fear and rising confidence in the near-term trend.
Footnote:
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Source: Gemini
Ticker: QQQ
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