QQQ should see more downside
The Fed has done a series of hike the benchmark interest rate last year. As a result, Indices have not performed well last year due to the rising rate environment. One of the popular vehicles to trade Indices is QQQ. Invesco QQQ is an exchange-traded fund (ETF) that tracks the Nasdaq-100 Index™. The Index includes the 100 largest non-financial companies listed on the Nasdaq based on market cap. Below we will take a look at the Daily Elliott Wave chart for QQQ which favors further downside overall.