QQQ outperforms major Indices

Since the beginning of June, QQQ – the Invesco QQQ Trust – reversed its trend to bullish. With a series of mostly bullish candlesticks QQQ moved above its 10- 20- and 50-day exponential moving averages. All three moving averages are currently rising, which is an indication of a strong trend.

It’s a matter of days for the 20-day exponential moving average to cross over the 50-day exponential moving average if the bullish trend continues.

Price has started moving in a strong bullish channel between the 10-day exponential moving average and the upper Bollinger Band.

The reversal in momentum was depicted in MACD in early June. MACD is currently moving in positive territory and above its signal line.

The next obstacle for QQQ’s bullish trend is the blue resistance line at about 191.

In addition to the above, QQQ’s Relative Strength is rising and above its 20-day exponential moving average.