S&P 500 & Nasdaq 100 Update: Short-Term Momentum Shifts Bearish for QQQ

Following a ~2% pullback in the S&P 500 that tested the lower boundary of its 2.5-month consolidation range, we break down the underlying rotation across equity markets. While the equal-weighted S&P 500 managed a slightly positive week, high-flying “Magnificent 7” tech leaders fell ~3.4%, triggering a new short-term momentum sell signal in the Nasdaq 100 (QQQ). Watch to see how these shifting momentum indicators impact risk management as we navigate the second half of October.