Technology stocks have been the engine behind the stock market rally into 2024. Even better stated, tech stocks have been a market leader since 2009.
Today, we highlight this with one of my favorite ways to interpret market strength: equal weight indices & ETFs. The chart below is the First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ: How long with this double top Fibonacci resistance hold for? Will it be long enough to send QQEW much lower? Or will it be different this time?Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.