$QQQ

Nasdaq is preferred long exposure versus a Dow short because speculators remain short and shorting the index amid the AI advance is considered a mistake.

$QQQ could set up for its next leg higher after a pullback toward 705, where the rising 20-day moving average would be tested.

Nasdaq Composite still appears to be completing a successful bullish breakout and retest, with the case strengthening the longer price remains above weekly cloud resistance.

NDX may see a modest pullback after rallying into its downtrend, although clearing 30,804 would target the all-time high.