META - QQQ: Never Bet Against The Market

2024-05-13 11:30:00 ET

Summary

• Invesco QQQ ETF is a high-quality ETF based on the construction of the Nasdaq-100 index.
• It's less diversified than the S&P 500 but still focuses on fundamentally strong companies in the market.
• QQQ benefits from secular growth opportunities, which include AI, cloud computing, and digital advertising.
• The tech sector isn't overvalued relative to its historical averages, suggesting optimism in QQQ is justified.
• I explain why QQQ should remain a core holding for ETF investors. Never go against the market.

Don't Go Against QQQ

Invesco QQQ Trust ETF ( QQQ ) investors have benefited from a resurgence in bullish positioning and continued resilience in the US economy as QQQ bottomed out in October 2023. My previous bullish upgrade on QQQ in early October emphasized that QQQ seemed "well-primed to restart the next leg in its uptrend continuation (valid since March 2023)." As a result, bearish investors who failed to anticipate the market's astute positioning and bullish price action likely missed capitalizing on QQQ's significant surge....

For further details see: