The Nasdaq 100 (NDX) will have a special rebalance effective on Monday, July 24th. The top names in the NDX like MSFT, AAPL, NVDA, AMZN, etc. collectively have too much weight in the index. Now, what we’re seeing is rotation within the QQQ.
Big money is selling the big tech names and buying the smaller names like AVGO, CSCO, and PEP. The question now is how long does the rebalancing take place?
In the video below, we’ll review the charts on the S&P 500 (SPX) as well as some good-looking setups that are shaping up.
Check out Raghee’s breakdown on Twitter here:
⚠️ #Nasdaq rebalancing is taking place on July 24th 👀@ragheehorner explains what this means and how this affects big tech names like $MSFT, $AAPL, $NVDA, $TSLA, $AMZN, $META, $GOOG, $GOOGL, and the overall market this month. $NDX $NQ_F
🌟 Simpler Members, check out the… pic.twitter.com/DZmrOKyT2R
— Simpler Trading (@simplertrading) July 10, 2023
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