Into the queues, you can see here, too, much like on the S&P 500, didn't really do too much today. It did finish up .09% but really just kind of closing in line with price action yesterday.
Now, the queues are starting to start to form a little bit more bearish consolidation. The last six trading days or so have been diagonally moving down. This needs to end up stopping, put in some sort of consolidation, and then it can make another leg lower.
But just something to keep in mind on the Q's also having a great day today. Up about 1.1% passing that gap fill from Wednesday, right? And while we're testing all-time highs on the S&P, it's not the case on the keys.
And I talk about this so much, but the decoupling between the S&P and the Q's where the S&P is pushing towards new all-time highs. Q's are kind of stuck down here um well off down about 4% from their previous highs.
The Q's, which were pulling back, looks like that's trying to slow down, but we might not be out of the woods yet. Here's the Q sitting above the VWAP. I' I'd want to keep watching that.
By the way, Q's look like they're going to try and go higher, and that would be helped by a bounce in some of these other tech names like Oracle that we're talking about. Looks like it wants to. We'll see if it does.
And at the same time, the Q's looked like they were trying to curl here a little bit. They actually looked better than the S&P. So, looks like Q's trying to break this structure on the downside here. Uh trying to break and move back up.
so I was just going to say Q's actually looking all right here. Uh again, we did have this break of structure in the in the pre-market here. It looks like it's trying to climb back and we're above the VWAP here. This looks all right for the Q's so far.
Now, into the Qs. The Qs actually remained somewhat neutral today. You see they're down 0.08%, but if I flip to the 10-minute chart, that really all happened after 2:30. Cuz as you see here, the Qs bounced.
We actually gapped up, and then when we bounced, we went positive, and we remained positive from about 11:00 all the way until about 2:30, in which the selling just increased throughout the afternoon.
I have a bull trend and an edge on the Q's. Same deal. Higher highs and higher lows.
Um QQQ is basically at its VWAP. That's interesting.
All right. So, the bot did take some Q calls. Q's calls. Took a bit, but we got one. All right, SPY is here. So, this is the Q. So, we're long the Q calls here. It took the 712 calls, by the way. It's up slightly.
QQQ funds tend to continue to weaken. I said last week that the trend was still downward and decoupled from the S&P 500, and that has proven to be true. We are still heading downwards, but very steadily.
While everyone was chasing Nvidia and AI stocks this year, a boring little dividend ETF quietly passed up QQQ and the S&P 500 in 2026.
Guys, if QQQ and SPY have higher highs to make as time goes on, my guess is they'll probably outperform SCHD in the long run. But if we have a bad bare market, I really think the difference in the SCHD performance versus the S&P and the and the um and QQQ will be very very large with the SCHD dominating the other two indexes.
