July 1, 2024

By Nigam Arora & Dr. Natasha Arora

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

Strong Seasonality

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

Note the following:

• The chart shows that QQQ is levitating but stalled near the high.
• The chart shows that RSI has pulled back, indicating loss of internal momentum.
• The chart shows that QQQ is significantly above the support zone.  This indicates that there is high risk in this market that investors are ignoring for the time being.
• The chart shows that the volume is low, indicating lack of conviction.