QQQ closed at $679.89, 0.35% under its 200-day average and 10.9% below its record, despite a 3.6% weekly gain
The Invesco QQQ Trust ($QQQ), which tracks the Nasdaq 100, closed Friday at $679.89 after a 1.2% drop as chip stocks reversed. That put it just under its 200-day moving average of $682.24.
It needs only a 0.35% gain to get back above that line, yet it is still 10.9% below its October 6 record of $762.86. It also rose 3.6% on the week. A good week that still leaves you in a correction is a strange kind of good week. Not financial advice
Sources: QQQ technical snapshot Nov 13: close $679.93, 200D SMA $682.24, price vs 200D -0.34% · FinPulze: QQQ slips below its 200-day average as chip stocks reverse; Oct 6 record high 762.86 · X story: QQQ closes below 200-day moving average for first time
Not financial advice. For informational and educational purposes only.