Chart of the Day – July 10, 2020

By: Chris Wenner in Charts 07/10/2020

The Q’s (QQQ ETF) is up 60% since the market bottom on March 23rd.  I think this ETF is a great proxy for risk-on markets, as 35% of the weightings are between AAPL, MSFT & AMZN – who have been the clear leaders in mega-cap tech.

The current wedge in the Q’s chart has the following levels I’d watch:  266 on the upside & 247 on the downside.

CW

 

By: Chris Wenner

Managing Director

Jonathan Molchan

Wennco's innovative strategies and robust OCIO capabilities are designed for RIAs, Family Offices, and high-net-worth individuals.

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