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- Market Moved Sideways In a Tight Range
Market Moved Sideways In a Tight Range
US-Ukraine/Europe White House Meeting Was a Nothing-Burger
Hey Market Timer!
Big investors are buying this “unlisted” stock
When the founder who sold his last company to Zillow for $120M starts a new venture, people notice. That’s why the same VCs behind Uber and eBay also backed Pacaso. They made $110M+ in gross profit to date. They even reserved the Nasdaq ticker PCSO. Now, you can join, too.
Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.
Today we will be covering...
Today, we will look at Equal Weight QQQ.
Equal Weight QQQ - QQQE
QQQE has been weakening relative to QQQ since the April low.
After a sharp drop in early August, QQQE is forming a bear flag on top of 50D MA, while QQQ (not shown) is near its highs.
Although it can bounce more, it looks like “another shoo may drop.”
In August, the RSI and QQQE/QQQ fell from a cliff.
This is one more indication of a narrowing market, in this case, of the NASDAQ 100. Narrow markets are exposed to the fortunes of a small number of stocks.
In such narrow markets, one should follow the leaders that are propelling the market higher. When they reverse, the overall market is also likely to reverse.

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Stock Market Internals & Sentiment
A tight range sideways day with negative internals.
NYSE: Decliners outnumbered advancers by a 1.30-to-1 ratio, with 16.3 billion shares traded, lower than the last 20-session average of 18.2 billion. This reflects a bearish sentiment for the day, consistent with Wall Street's lower close influenced by tech and financial stock pullbacks.
NASDAQ: The ratio of decliners to advancers was 1.36-to-1, indicating a similar bearish trend, aligning with the tech-heavy index's 0.4% decline.
Fear & Greed Index was essentially unchanged in Greed.
5-day average put/call ration is approaching the red alert zone.

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