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Chart of the Day - Thursday, July 31, 2025


🏆 Today's Chart of the Day was shared by Jason Goepfert (@jasongoepfert).

 

  • The Nasdaq 100 ($QQQ) opened in record territory this morning, gapping up +1.2% on strong earnings from $MSFT and $META. However, it gave it all back and engulfed the prior five closes, finishing the day down -0.5%.
 
  • Jason notes that forward returns have historically been mixed over the next few weeks, based on the eight prior signals since 1999 in which $QQQ gapped to a new high by +1% or more, only to close red. 
 
  • The next week was higher just 25% of the time, for an average loss of -1.6%. On a more bullish note, the next 2-3 weeks have been higher 88% of the time, averaging gains of +2.4% and +4.1%, respectively.

     

The Takeaway: The Nasdaq ($QQQ) closed lower by -0.5% today despite gapping higher by +1.2% this morning. After similar reversals, $QQQ struggled over the next week, but strength quickly returned within 2-3 weeks.