Market overview for Tuesday March 12th 2019

Screen Shot 2019-03-13 at 12.12.36 PM

QQQ the cubes representing NASDAQ 100

this month is the 20th anniversary of Invesco QQQ, its top-performing large-cap growth ETF that tracks innovative companies included in the Nasdaq-100 Index. Launched on March 10, 1999, QQQ offers investors access to global growth companies, excluding the securities of financial companies.

QQQ is the sixth largest ETF listed in the US with $66 billion in assets under management and one of the longest performance histories available in an ETF.

It is amazing for the individual investors. it went up 500% last 10 years. It closed at 30 in March 2009 and this march of 2019 it is at 176.

Mining Gold silver and gems industry group is the top performer on Tuesday. The best YTD is energy solar companies, with 39% gain so far.

SOXX ETF and IGV Software ETF has lots of influence on performance of NASDAQ – 100.

IGV is up 23.4 % this rally starting December 26th last year. IGV is up 29.6 %. NDX – nasdaq 100 is up 19%.

NASDAQ composite’s volume was below average yesterday with 2.1 billion shares traded.   it went up around 0.44%. The best part is that it surpassed the closing price of Monday March 4th 2019 which resulted in a 5 day pullback.

IBD says this – “The tech-fortified Nasdaq composite gained 0.4% on Tuesday. It continued to gnaw away at the constructive pullback of 4.1% seen over a five-session selling streak that ended Friday. At 7591, the leading index for growth stocks is still enjoying one of its strongest advances in any quarter in recent history, up 14.4% since Jan. 1”

Yesterday’s low of NASDAQ did not touch any of the previous day’s price which is fantastically bullish.

the small caps ISHARES Russell 2000 ETF IWM did not show any direction yesterday and was very tepid

 

 

 

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