Daily Pulse · · 14:00 CET · market · QQQ

A bull charging out of a dark city skyline on the left toward open sunlit country on the right, with a discarded chart lying in the dust behind it.

Four Charts Say Breakout. One Says Watch the Belly.

The structural read behind today's Morning 10 — four setups pointing the same way, the earnings engine underneath them, and the one chart that gets a veto.

What Tuesday actually did

The Nasdaq-100 closed at 723.85, up 3.40%, the strongest session in months. Semiconductors did better: SOXX up 6.80%, SMH up 5.55%. Software joined at 4.70%, technology broadly at 4.98%, and the S&P 500 added 1.80% with small caps alongside at 1.85%.

One number sat out. MAGS, the Magnificent Seven vehicle, rose 0.85% — an eighth of what semiconductors did, and the second consecutive session with that shape. Hold on to that, because it turns up again below in a way that is more interesting than it first looks.

QQQ weekly chart from 2022 showing a five-wave advance into 2025, a corrective wave 2, and an ongoing wave 3, with price at 723.85 inside an intact rising channel.
The long view. The five-wave advance completed in early 2025, the correction that followed is labelled wave 2, and the rising channel off the 2023 low has not been invalidated. Whatever else is arguable, the secular structure is intact.

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