September 18, 2020 02:59 AM RSS

QQQ Still Below Its June 8th Close

  • Wall Street Rebel | Geoff Garbacz
  • 08/29/2017 05:00 PM
QQQ Still Below Its June 8th Close

The Powershares QQQ Trust ETF (QQQ) is still below its close from June 8th. On June 9th the QQQ had a bit of crash. We have written on this crash and note that our belief was that this could be a big problem for the QQQ.

On June 8th, the QQQ closed at $143.57. It moved above this level in late July and early August before moving to its current level, $142.97. So effectively the QQQ has had a two month time out. The low was on July 6th with a closing of $136.29.

A break of this level could send QQQ to $132 which is where it broke out from in April.

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