$Invesco QQQ Trust(QQQ.US)$Invesco Nasdaq 100 ETF(QQQM.US)QQQ printed a textbook hammer on the weekly chart last week, helped by the rebound in semiconductor names and strength across parts of the hardware sector. The price action suggests buyers are still willing to defend key support, which is an encouraging sign after the recent weakness.
That said, this alone isn‘t enough to confirm a new uptrend. The next move will likely depend on two things: whether AI can deliver fresh catalysts beyond recent earnings, and whether inflation continues to ease, giving the market more confidence that financing conditions will improve.
The hammer is a sign of resilience, but without stronger AI momentum or a friendlier macro backdrop, QQQ could still remain stuck in a volatile trading range.
@Captain's Treasure
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