Investor Behind Top Global ETF Sees Bearish Trend In Big Tech Rally: 'Not A High Conviction'
Portfolio Pulse from Bibhu Pattnaik
Anna Paglia, the managing director and global head of ETFs and indexed strategies at Invesco QQQ Trust, sees a bearish pattern in the Big Tech rally. The QQQ ETF has outperformed the S&P 500 by over 17% in 2023, but Paglia believes there's not a high conviction in the short term.
May 21, 2023 | 1:57 pm
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NEGATIVE IMPACT
Apple is one of the top holdings in the QQQ ETF, which is experiencing a bearish pattern in the Big Tech rally.
As one of the top holdings in the QQQ ETF, Apple may be affected by the bearish pattern in the Big Tech rally. This could lead to a negative short-term impact on Apple's stock price as investors become more cautious.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Amazon is one of the top holdings in the QQQ ETF, which is experiencing a bearish pattern in the Big Tech rally.
As one of the top holdings in the QQQ ETF, Amazon may be affected by the bearish pattern in the Big Tech rally. This could lead to a negative short-term impact on Amazon's stock price as investors become more cautious.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Alphabet is one of the top holdings in the QQQ ETF, which is experiencing a bearish pattern in the Big Tech rally.
As one of the top holdings in the QQQ ETF, Alphabet may be affected by the bearish pattern in the Big Tech rally. This could lead to a negative short-term impact on Alphabet's stock price as investors become more cautious.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Meta Platforms is one of the top holdings in the QQQ ETF, which is experiencing a bearish pattern in the Big Tech rally.
As one of the top holdings in the QQQ ETF, Meta Platforms may be affected by the bearish pattern in the Big Tech rally. This could lead to a negative short-term impact on Meta Platforms' stock price as investors become more cautious.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Microsoft is one of the top holdings in the QQQ ETF, which is experiencing a bearish pattern in the Big Tech rally.
As one of the top holdings in the QQQ ETF, Microsoft may be affected by the bearish pattern in the Big Tech rally. This could lead to a negative short-term impact on Microsoft's stock price as investors become more cautious.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Nvidia is one of the top holdings in the QQQ ETF, which is experiencing a bearish pattern in the Big Tech rally.
As one of the top holdings in the QQQ ETF, Nvidia may be affected by the bearish pattern in the Big Tech rally. This could lead to a negative short-term impact on Nvidia's stock price as investors become more cautious.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Invesco QQQ Trust's Anna Paglia sees a bearish pattern in the Big Tech rally, indicating low conviction in the short term.
Anna Paglia, the managing director and global head of ETFs and indexed strategies at Invesco QQQ Trust, sees a bearish pattern in the Big Tech rally. This could lead to a negative short-term impact on the QQQ ETF as investors may become more cautious and defensive.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100