July 21, 2023

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Nasdaq Rebalancing

Please click here for a chart of Nasdaq 100 ETF (QQQ).

Note the following:

• From a long term perspective, the chart shows that QQQ is way over stretched to the upside compared to the 200 day moving average shown in yellow.  
• The chart shows that QQQ has hit the low band of the resistance zone and has slightly pulled back after hitting the low band.
• The chart shows that QQQ is still above the trendline.
• The chart shows the slope of the trendline is now less than it was earlier when QQQ broke out of the support zone shown on the chart.