“While several key stock indices have broken out, the NASDAQ 100 (INDEXNASDAQ:NDX) certainly has not. It is running into resistance at levels hit back in October. While the QQQ’s still look bullish over the next 6 weeks to rise potentially to 123-124 area, the near-term should prove challenging. The situation is fluid, but I’m looking for a stall out over a 1-2 week period before it moves higher,” according to See It Market.
The Fidelity NASDAQ Composite Index ETF (NasdaqGM: ONEQ) deserves a place in the conversation. After all, ONEQ is the Nasdaq Composite tracking ETF. That means ONEQ offers a much deeper bench than Nasdaq-100 ETFs as the Fidelity offering is home to 1,924 stocks and does not exclude financial services names as do its Nasdaq-100 rivals.
For more information on technology ETFs, visit our Technology category.
Tom Lydon’s clients own shares of QQQ.