The Weekend Rip: Nasdaq 100 FTW?

Good evening and happy Father’s day to all those fathers out there. 

The Nasdaq 100 Index closed at a weekly all-time high. The outperformance astounds. More on this below. 

It’ll be another light earnings week. Notably, Nike and Darden are scheduled to report earnings on Thursday. 

Here’s your weekly S&P 500 chart and the last week’s changes. 

S&P 5003,097+1.86%
Nasdaq9,946+3.73%
Russell 20001,418+2.23%
Dow Jones25,871+1.04%
Weekly percent changes 

Nasdaq 100 FTW? 📈

The Nasdaq 100 ETF, $QQQ is outperforming the other major index ETFs by at least 18% this year.  

Here’s the YTD breakdown:

✧ $QQQ +15.12%
✦ $SPY -3.12%
✦ $DIA -8.17%
✦ $IWM -14.28% 

The Qs have not only outperformed this year but they’ve been doing it for 18 FREAKING YEARS. 😮 

Here are some ratio charts: 

$QQQ vs $SPY

$QQQ vs $IWM

$QQQ vs $DIA

On a ratio basis $QQQ is pressing levels not seen since the Dot-Com bubble. Plus, $QQQ has more than doubled since its close on March 24, 2000 (the dot com bubble high). Wowza.

Is this outperformance going to continue or are the Qs ready for a cool down? Place your bets… 

Sunday Links:

📃 European Football Clubs Are Turning to AI for an Assist

📃 Fixing the Outdoors Will Fix Our Economy

📃 Inside Hollywood Hitmaker Ryan Murphy’s Serene NYC and L.A. Homes

📺 How Tottenham Stadium Moves Its Massive 9000 Ton Pitch

The Week Ahead 

And now a brief and well-organized look ahead at the trading week beginning Monday, June 22, 2020:

Economic Calendar:

6/22  May Existing Home Sales (10:00 AM ET)
6/23  May New Home Sales (10:00 AM ET)

Here’s the full Economic Calendar provided by Briefing

Earnings Ahead:

Here’s Earnings Whispers’ great visual.

Be sure to know when your stocks are reporting. Here’s the full earnings calendar.