The historical pattern of volume for Invesco QQQ (QQQ) shows a general decline in trading volume over the past month, with several days exhibiting lower volume than the previous day1. Specifically:
- Recent Decline: The trading volume for QQQ has decreased from 42.74 million shares on October 1, 2024, to 22.02 million shares on October 24, 20241.
- Peak and Subsequent Decline: There was a peak at 34.78 million shares on October 15, 2024, followed by a decrease to 25.75 million shares on October 10, 2024, and further decrease to 27.21 million shares on October 17, 20241.
- Final Dip: The volume dropped to a low of 26.69 million shares on October 22, 2024, before a slight increase to 41.25 million shares on October 31, 20241.
Given this historical pattern, it might be less favorable to enter a position in QQQ today based on volume alone. The slight increase in volume on October 31, 2024, could be seen as a positive sign, but the overall trend of decreasing volume over the past month suggests a potentially less active or interested market. However, it's important to consider other factors such as market sentiment, news, and technical indicators before making a trading decision.
11/12/2024 03:06pm
