The Invesco QQQ Trust, among the most popular tech funds, is flashing a rare sign.
The $410 billion fund opened at a price today, which was 0.3% more than yesterday’s intraday high. It’s the third consecutive time the fund has done that; in the past two days the QQQ has opened a full percent and 0.8% higher than its prior day’s intraday high, respectively. Meanwhile, the fund has consistently traded at its highest price in a year over these past three trading days.
“Consecutive true gaps are rare, and three straight, as we discussed, are extremely rare,” says Jonathan Krinsky, chief market technician at BTIG.