1. S&P 500 gained 12% this year, driven by Magnificent Seven tech stocks. 2. Nvidia outperformed others, rising over 475% since late 2022. 3. QQQD ETF lost over 17% year-to-date, trading below key moving averages. 4. In contrast, QQQU ETF gained nearly 63% in the last six months. 5. Increasing volume in QQQD showed notable acquisitions in recent months.
QQQD's significant year-to-date decline indicates weak investor sentiment and performance. Historical examples show that inverse ETFs underperform during bullish markets, similar to past trends with QID and SH.
The article discusses QQQD's poor performance and contrast with bullish funds like QQQU, affecting trader sentiment significantly.
The current negative momentum and underperformance of QQQD suggest continued bearish trends. Short-term trading strategies are likely to reflect these ongoing conditions.