Heading into today’s open, the Nasdaq 100 (QQQ) closed yesterday at $747.46, up 0.87%, while the SPDR S&P 500 ETF Trust (SPY) finished at $773.38, down 0.08%. The VIX currently sits at 14.19, within its recent 13.80-20.88 range, as investors assess the path of the 10-Year Treasury Yield which is at 4.96%.
This week we’re leaning into Semiconductors (SMH) and Growth/Tech (QQQ). SMH shows strong momentum with a +11.1% gain over the last month, trading above its 50-day trend. QQQ also demonstrates positive momentum at +5.8% over one month – likewise exceeding the 50-day benchmark. We anticipate continued interest in these areas given their recent performance and current technical positioning.
Last week’s sectors presented a mixed bag. Gold (GLD) led with a return of +1.49%, fulfilling its safe haven role, while Healthcare/Defensive (XLV) edged lower at -0.59%. Financials (XLF) underperformed, declining by -2.01%.
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