QQQ: Summer Glory To Fade Off In Fall Obscurity?

Sep. 19, 2022 8:30 AM ETInvesco QQQ Trust ETF (QQQ)QQQ5 Comments

Summary

  • In this note, we will discuss recent price action in Invesco's QQQ ETF, along with the factors driving this action.
  • Furthermore, I share a fresh outlook for the QQQ now that my call for a retest of June lows is looking nailed on to materialize.
  • I rate QQQ 'Neutral' at $290.
  • Looking for a helping hand in the market? Members of The Quantamental Investor get exclusive ideas and guidance to navigate any climate. Learn More »

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Dilok Klaisataporn

Introduction: Where Do We Stand?

Invesco's QQQ (NASDAQ:QQQ) is an exchange-traded fund that tracks the tech-heavy Nasdaq-100 index. After a scintillating summer rally off of June lows, tech stocks and equity markets, in general, have resumed their downtrend. The last

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This article was written by

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I am Ahan Vashi, a seasoned investor with professional background in equity research, private equity, and software engineering. I currently serve as the Chief Financial Engineer at The Quantamental Investor, a community pursuing financial freedom through bold, active investing with proactive risk management.

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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I do not own QQQ; however, I do own several technology stocks held in QQQ.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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