$Invesco QQQ(QQQ)$ The consolidation phase appears to be over. The next breakout is likely about to begin. The catalyst could be MU's earnings on Wednesday. Just a reminder, no one would want to miss out on another strong earnings report from MU. This could mark a significant shift for QQQ, moving from $734 to $835 within a week of trading.
$Advanced Micro Devices(AMD)$ Looking pretty good here. It's a healthy pullback after breaking out of the bullish channel, kind of like filling the gap from yesterday's jump. Volume was also way lower than yesterday's and obviously below the average daily volume. I'd be concerned if volume spiked, but this just looks like a low-volume price dip. I'm not inclined to go short as long as price stays above the 50-day SMA.
$Invesco QQQ(QQQ)$ looks set to remain supported above the June 10 low and resume the rally toward fresh all-time highs. As long as that pivot holds, the bullish structure stays intact and dips should remain corrective.
$Invesco QQQ(QQQ)$ It continues to stretch above the 20-day moving average, with multiple gap structures similar to prior three-year expansion phases. Momentum trend remains firmly intact, and price discovery is pointing toward a new all-time high. The real question here is not direction, but duration: how much fuel is left before we see the next double-digit correction? Until then, dips into the trend remain buyable, but risk is quietly building beneath the surface.
The Bank of Japan is widely expected to announce its interest rate hike on June 16. Looking back at the 2024 tightening cycle, $Invesco QQQ(QQQ)$ established a structural bottom just three days after the decision, before starting a significant rally for the rest of the year. If macroeconomic policy changes spark more volatility this week, any near-term turbulence could just be a healthy technical flush, offering a solid buying opportunity.