Nov. 7th 2025
QQQ gives back 💸
This was the worst week for the NASDAQ-100 (QQQ) since Liberation Day. The index fell -3.07% this week, while TQQQ fell -9.37%.
More than 10% of QQQ holdings closed at 52-week lows yesterday. Today 5% of the index closed at 52-week lows. Both are signs of weakness.
The University of Michigan Consumer Sentiment index fell to its second-lowest reading of all-time:
Sources: AdvisorPerspectives & WSJ
At 133 days, this has been longest uptrend on record since Raincheck Fund began. Valuations are extended, and we've seen TQQQ cross above +100% return since the uptrend began.
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