In reaction to the Fed hiking rates yesterday, equity markets fell with some areas seeing greater declines than others. Every major US Index ETF has moved below where it stood this time last week, with the exception being the Nasdaq 100 (QQQ). Up the most YTD of all these indices, it almost should not come as a surprise that it has withstood the hit of the Fed Day, still up 1.04% over the past 5 trading days. It was also the only ETF of this group to have seen any gains at all at the close.  Every other major US Index ETF was down on the day.  QQQ, along with the Dow (DIA), is the only remaining overbought ETF. All others have moved to neutral.

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