Chart of the Day - Wednesday, December 11, 2024

Patrick Dunuwila
December 11, 2024

Chart of the Day


🏆 Today's Chart of the Day was shared by Larry Thompson (@HostileCharts). 
 

  • After pulling back -1% over the past three sessions, The Nasdaq 100 ($QQQ) rebounded to an all-time high today. 
     
  • Larry points out that $QQQ is stair-stepping higher in an orderly fashion while breaking out of a five-month base relative to the S&P 500 ($SPY). 
     
  • While RSI failed to confirm today's high, it continues to trend higher in a bullish range (above 50).  
     

The Takeaway: The Nasdaq 100 ($QQQ) is breaking out to all-time highs on an absolute basis while emerging from a five-month base relative to the S&P 500. 

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