Chart of the Day - Thursday, March 6, 2025

March 6, 2025
Patrick Dunuwila

Chart of the Day


 🏆 Today's Chart of the Day was shared by Jamie Saettele (@JamieSaettele). 
 

  • The Nasdaq ($QQQ) officially broke its 200-day moving average for the first time in two years today, closing at a four-month low.
     
  • However, one of the largest stocks in the index, Broadcom ($AVGO), is up +11% after hours following a strong earnings report. $AVGO is the 5th largest stock in $QQQ and the 8th largest in $SPY. 
     
  • Jamie points out that $AVGO was on life support heading into today's report. It's just one stock, but Semis can't afford to lose another leader. A negative reaction would've been a nail in the coffin for Semis, but $AVGO has refused to break down so far. 
     

The Takeaway: The Nasdaq broke its 200-DMA for the first time in two years. However, its 5th largest component is up double digits after-hours. If $AVGO holds its gains tomorrow, it could spark a bounce in Semis, Tech, and $QQQ. 

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