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.
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…
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📃 Fixing the Outdoors Will Fix Our Economy
The Week Ahead
And now a brief and well-organized look ahead at the trading week beginning Monday, June 22, 2020:
6/22 May Existing Home Sales (10:00 AM ET)
6/23 May New Home Sales (10:00 AM ET)