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 500 | 3,097 | +1.86% |
| Nasdaq | 9,946 | +3.73% |
| Russell 2000 | 1,418 | +2.23% |
| Dow Jones | 25,871 | +1.04% |
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.
