ETF Outlook for the Week of April 21, 2014:
PowerShares QQQ (NYSE: QQQ)
It is a big week for earnings, especially the NASDAQ 100 stocks. Of the 100 stocks in the index, 32 will be reporting earnings this week. The stocks represent over 50 percent of the market cap of the index and therefore the ETF.
After pulling back eight percent from a decade-high, the ETF has started to rally and is coming into the week on a four-session winning streak. The next few days will be critical to the near-term direction of the ETF and investors should expect volatility with the large amount of earnings set to be released.
First Trust NASDAQ Clean Edge Green Energy ETF (NYSE: QCLN)
Tesla Motors (NASDAQ: TSLA), the ETF’s largest holding, will begin making deliveries to China this week. After ...
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