Happy Birthday Investco QQQ
Invesco QQQ is an exchange-traded fund based on the Nasdaq-100 Index. QQQs is one of the most traded ETFs in the world and includes 100 of the largest domestic and international nonfinancial companies listed on the Nasdaq Stock Market based on market capitalization.
The Invesco QQQ ETF first hit the markets on March 10, 1999. After 20 years, QQQ is now the sixth largest U.S.-listed ETF with $66.4 billion in assets under management.
QQQ’s the top three sectors are: 60% technology, 22% cyclicals and 9% healthcare.
Top components include are Microsoft (NasdaqGS: MSFT) 10%, Apple (NasdaqGS: AAPL) 10%, Amazon.com (NasdaqGS: AMZN) 9% and Facebook (NasdaqGS: FB) 5%.
So where is the QQQ heading over the next 20 years,
but I can give you an idea of where it might be headed over the next several weeks?
Monthly Chart (Curve Timeframe) - Monthly demand is at $143 and monthly supply is at $187.
Weekly Chart (Trend Timeframe) – the trend is up with a recently formed weekly demand zone at $168.
Daily Chart (Entry) – the chart suggests to go long if price pulls back to the weekly supply at $168 with a target at $187.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
I remember buying the QQQs when the bubble bursted as a long term play! Too bad I sold years ago!
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You will get another opportunity in the future. as equity markets are designed to go up over time.
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Solid analysis as usual
Thanks @workin2005...are you all moved in and set up?