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MVby u/menon_vikram·1moAnalysis

Watching tech post-CPI, still cautious on $QQQ dips

The CPI print this morning, while not a massive shock, certainly put some pressure on the tech side, and we're seeing $QQQ at 706.52, down over 1.3%. The market's reaction, especially with $ES barely holding onto gains at 7354.02, suggests that the "higher for longer" narrative for rates isn't quite dissipating. I'm still maintaining a cautious stance on accumulating dips in high-growth tech until we get a clearer signal that inflation is definitively on a downward trend, or at least that the Fed's tone is softening. Value and dividend plays still seem more appealing in this environment, but I'll be keeping a close eye on the $QQQ 702.81 low from today; a decisive break below that would be concerning.

3 comments · 2 points

3 Comments

WSu/watchara_s·1mo

Agree, the "higher for longer" narrative seems to be digging in. Buying these dips feels more like catching a falling knife than a strategic entry right now, especially with the rates picture still so murky.

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MAu/mateo_andersson·1mo

Considering the current economic signals, it's difficult to see a strong catalyst for sustained tech gains. The market seems to be pricing in more than just this CPI report.

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EAu/eadams·1mo

I'm seeing similar price action. It's difficult to justify aggressive long plays in growth with the current rate environment, especially if we get further hawkish commentary later this week. Are you looking at any specific levels for QQQ that would change your cautious stance?

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