First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW)

The upcoming week will have plenty of potential catalysts to excite or worry investors. However, now is the time to get tactical rather than scared.

Walmart’s shares opened higher as its earnings report surpassed expectations. EPS and revenues beat expectations. Moreover, the company increased its sales guidance for next year by a full percent.

With the stock market trading at all-time highs and seemingly pressing higher and higher by the month in 2024, it should come as no surprise that households across America are upping their exposure to equities.

The tech-heavy Nasdaq Composite Index has been hitting a series of record highs in recent weeks, powered by technology stocks on artificial intelligence (AI) optimism and Nvidia’s relentless rally. As such, the ETFs tracking the index are in focus.

Unlike the QQQ, the QQEW has yet to break out. In fact, it may be forming a double top at major price resistance.

Lately, the tech-based Nasdaq indices have been slowing down.

The tech-heavy Nasdaq Composite Index hit a record high in the last trading session, marking a five-week win streak. Solid corporate earnings and rate cut bets have been driving the stocks higher

Several indicators of investor sentiment are showing rising “greed” levels. And when investors get greedy, it tends to imply that we are nearing a top.

The end of year rally has trickled over into 2024 and it has been lead by tech stocks.

QQEW has been trading in a rising trend channel since late 2022. And this rally has taken QQEW to an important resistance point.

​​​​​​​The tech-heavy Nasdaq Composite Index recorded the best annual performance since 2020, rising 43% in 2023. The Nasdaq-100, which tracks the top 100 stocks traded on the Nasdaq Exchange, posted its best year since 1999.

By now, you're probably well aware that Jerome Powell and the Fed became “dovish” on Wednesday and pivoted to a stop on interest rate hikes. The markets reacted favorably, and the party (which may have begun in early November) kicked into high gear.

Dow Jones futures: The S&P 500 win streak is over, on a poor Treasury auction and Fed chief Powell comments. Tesla stock was a big loser.

Tech stocks have been leaders once again in 2023 following its broad-based correction into 2022. But, we are not out of the woods just yet.

A special rebalance will take place July 24 for the big-cap Nasdaq index.

Many stocks flashed buy signals. But was the pullback over too quickly?

The Markets To say NVDA (NASDAQNVDA) crushed earnings is a drastic understatement. You won’t find fundamental analysis on this page. But it does make sense to pay attention to the smart and experienced traders that know the fundamentals. And the opinion seems to be pretty consistent.

The markets are narrow. This has caused many technical analysts to conclude that we were not seeing enough participation in the market, and they would have to fall. No other year comes close to seeing the influence mega-cap stocks have right now.

Investors looking to ride the Nasdaq bulls could consider the following ETFs.

Despite the vicious selloff, QQEW held its rising 13-year price channel support.

Tech represents both growth and leadership in global equities and has been under pressure due to rising interest rates.

Looking across the U.S. stock market indices and sectors, one thing is apparent: Growth stocks are getting hit hard.

The Nasdaq 100 filled the gap but kept rallying, only to see some selling on Friday. Tech’s relatively better performance, slightly, comes ahead of June-quarter results this week from the leading tech outfits.

Fed Chair Jerome Powell is set to speak today. There's risk that he wants to pull forward rate hikes given inflation jumping and we may soon have a