Large Cap Tech Stocks Leadership Continues To Send Bullish Message

qqq nasdaq 100 etf rising up trend line bullish above bull market chart image april 27

$QQQ Large Cap Technology ETF “monthly” Chart

The stock market crash was a scary event and the future still holds plenty of uncertainty.

But today’s chart provides some hope.

The Nasdaq 100 ETF (QQQ) represents large cap tech stocks, an area that has been a leader of the bull market run off the 2009 lows.

As you can see, the QQQ’s have been in a 10 year rising channel marked by each (1). And there hasn’t been a close above or below the channel.

The stock crash last month saw the QQQ’s test the 10-year rising support as well as the 161.8 Fibonacci extension level at (2). And that support held!

Leadership in the large cap tech space continues to send a bullish message to longer-term investors. Stay tuned!

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Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

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