Outside the Range

Detailed analysis below...

Last week was a big one for US markets with the S&P 500 finishing +1.5% despite Wednesday’s hotter than expected CPI reading. This is the 3rd and latest example in the last few weeks of a big market gap down on bad news being bought up (DeepSeek gap down, Tariff news gap down, and Hot CPI gap down).

For the QQQ, we finally broke through the 2 month trading range we have been in and closed last week at the highest levels in the index since mid-December.