{"id":1262325,"date":"2026-05-11T11:07:37","date_gmt":"2026-05-11T08:07:37","guid":{"rendered":"https:\/\/www.etoro.com\/?p=1262325"},"modified":"2026-05-11T20:14:25","modified_gmt":"2026-05-11T17:14:25","slug":"qqq-hits-overbought-territory","status":"publish","type":"post","link":"https:\/\/www.etoro.com\/en-us\/news-and-analysis\/the-daily-breakdown\/qqq-hits-overbought-territory\/","title":{"rendered":"QQQ Hits Overbought Territory"},"content":{"rendered":"

The Daily Breakdown takes a closer look at the QQQ as the ETF soars to new heights…but enters overbought territory on the charts.<\/p>\n

Before we dive in, let\u2019s make sure you\u2019re set to receive The Daily Breakdown each morning. <\/span><\/i>To keep getting our daily insights<\/i><\/b>, all you need to do is <\/span><\/i>log in<\/span><\/i><\/a> to your eToro account.<\/span><\/i><\/p>\n

What’s Happening?<\/b><\/h2>\n

Stocks ended Friday on a hot streak, with tech leading the way. The Nasdaq 100<\/a> rose more than 2.3%, while the S&P 500<\/a> jumped 0.8%. Both indices notched their sixth straight weekly gain. Crypto continues to inch higher too, with Bitcoin<\/a> now rallying five of the last six weeks.\u00a0<\/span><\/p>\n

\ud83d\udc40 What to Watch for<\/b><\/h4>\n

This week\u2019s focus is a blend of earnings and economic reports, with the CPI inflation report on Tuesday morning, followed by retail sales on Thursday. Both reports will be released at 8:30 a.m. ET. On the earnings front, Alibaba<\/a> and JD.com<\/a> stand out, along with a few others like Oklo<\/a>, Cisco Systems<\/a>, AST SpaceMobile<\/a>, Hims & Hers Health<\/a>, Ondas<\/a>, and Applied Materials<\/a>.\u00a0<\/span><\/p>\n

\u26a1 Crypto Corner<\/b><\/h4>\n

So far, Monday\u2019s a tough day in the crypto space, but last week had a number of strong performers. Ondo<\/a> climbed more than 45%, Near Protocol<\/a> rallied 22%, and Solana<\/a> jumped nearly 15%. Chainlink<\/a> and Cardano<\/a> also had solid showings. <\/span><\/p>\n

Want to receive these insights straight to your inbox?<\/strong><\/p>\n

Sign up here<\/a><\/p>\n

Chart of the Day \u2014 QQQ ETF<\/b><\/h2>\n

Below illustrates what a six week, 26.4% rally looks like for the <\/span>QQQ<\/span><\/a> ETF.\u00a0<\/span><\/p>\n

\"Daily
Chart as of the close on 5\/8\/2026. Source: eToro ProCharts, courtesy of TradingView.<\/em><\/figcaption><\/figure>\n

The QQQ ETF has hit a new record high in seven straight sessions, with bulls cheering the move and bears wondering when this rally may lose steam. Included on this chart is the Relative Strength Index \u2014 or RSI \u2014 which is a momentum indicator that helps identify potentially overbought or oversold conditions. Below 30 is considered oversold, while above 70 is considered overbought.\u00a0<\/span><\/p>\n

Now trading with an RSI above 81, many technical traders are hesitant that the rally can continue without some sort of pause. However, a word of warning with the RSI: A stock can always become more oversold or overbought than one might think.\u00a0<\/span><\/p>\n

Options<\/b><\/h4>\n

Investors who are bullish could consider calls or call spreads as one way to speculate on further upside, while bearish investors could consider puts or put spreads to speculate on a further move to the downside. For options traders, it may be advantageous to have adequate time until the option\u2019s expiration.\u00a0<\/span><\/p>\n

To learn more about options, consider visiting the <\/span>eToro Academy<\/span><\/a>.<\/span><\/p>\n

What Wall Street’s Watching<\/h2>\n

CRCL<\/b><\/p>\n

Circle\u2019s<\/a> USDC in circulation grew 28% year-over-year to $77 billion, while on-chain transaction volume jumped more than 260% to $21.5 trillion. Yet the company missed on earnings and revenue expectations. Shares are slightly positive in pre-market trading with optimism around the CLARITY Act driving the narrative. <\/span>Dig into the fundamentals for CRCL<\/span><\/a>.\u00a0<\/span><\/p>\n

MRNA<\/b><\/p>\n

Shares of Moderna<\/a> have been rallying lately, climbing almost 20% last week \u2014 including a 12% jump on Friday. This morning, shares are higher by more than 5% and hovering near the stock\u2019s 52-week high of $59.55. The conversation around MRNA picking up amid increased coverage around the hantavirus. <\/span>Check out the chart for MRNA<\/span><\/a>. <\/span><\/p>\n

Disclaimer:<\/i><\/b><\/p>\n

Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.<\/i><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

The Daily Breakdown takes a closer look at the QQQ as the ETF soars to new heights…but enters overbought territory on the charts. Before we dive in, let\u2019s make sure you\u2019re set to receive The Daily Breakdown each morning. To keep getting our daily insights, all you need to do is log in to your…<\/p>\n","protected":false},"author":130,"featured_media":819735,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6894],"tags":[],"asset_type":[],"class_list":["post-1262325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-breakdown"],"acf":[],"yoast_head":"The Daily Breakdown: QQQ Hits Overbought Territory<\/title>\n<meta name=\"description\" content=\"The Daily Breakdown takes a closer look at the QQQ as the ETF soars to new heights...but enters overbought territory on the charts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.etoro.com\/en-us\/wp-json\/wp\/v2\/posts\/1262325\" \/>\n<meta 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