Related: 5 Most Popular Broad Technology Sector ETF Picks
QQQ’s “relative-strength index, a measure of how fast prices have moved, shows the fund is neither overbought nor oversold, while the moving average convergence-divergence indicator, another gauge of momentum, is below its red-signal line, suggesting a downtrend,” notes Bloomberg.
QQQ, one of the largest U.S. ETFs, has equal-weight equivalents equal-weight equivalents such as the Direxion NASDAQ-100 Equal Weighted Index Shares (NYSEArca: QQQE) and the First Trust NASDAQ-100 Equal Weighted Index Fund (NasdaqGS: QQEW).
For more news and strategy on the Technology market, visit our Technology category.
Tom Lydon’s clients own shares of Apple, Facebook and QQQ.