Market Analysis

SPY|QQQ Thursday 1PM 9/11/2025

September 11, 2025 3 min read

Market Sentiment Analysis

Overall Market Sentiment

SPY (S&P 500 ETF):
Examining the 30-minute intraday chart of SPY for the past 30 days, and focusing on the recent 13 bars suggests that the SPY has experienced a steady rise, with minor fluctuations. Volume trends indicate a moderate trading interest, but a recent increase in volume during a minor rally may point to renewed buying interest. The moving averages likely show support as the prices navigate upwards. Look for a continuation if the price sustains above recent highs.

QQQ (Nasdaq-100 ETF):
In the recent 13 bars, QQQ is displaying a consistent upward trend with some small retracements, supported by steady volume. The price movements are closely aligned with moving averages, indicating general health in the tech-heavy index. Sustained volume in the recent upswings, suggest a steady inflow of market interest. Maintaining this momentum could mean further gains.

VXX (Volatility Index):
VXX has shown more stability recently, with minor movements upwards, reflecting a relatively calm sentiment in the equity market. Absence of significant spikes or volatility suggests traders’ confidence in current market conditions for SPY and QQQ, reducing the likelihood of immediate downturns unless a shock occurs.

Sector Analysis

An examination of the sector ETFs reveals interesting patterns across different sectors:

XLC (Communication Services) and XLY (Consumer Discretionary): Both sectors have been performing well, with notable uptrends seen over recent sessions. This might be indicative of consumer confidence and investor willingness to take on more risk, favoring cyclical sectors.
XLP (Consumer Staples) and XLU (Utilities): These traditionally defensive sectors are performing steadily, reflecting a standard hedging among risk-averse investors, but without notable rotations.
XLK (Technology): Technology continues to show strength, which aligns well with the current performance of the QQQ. Its sustained demand suggests bullish momentum.
XLE (Energy): Energy has seen moderate interest. The relative stability suggests no immediate shifts but remains a sector to watch amidst external factors such as geopolitical influences.
XLF (Financials) and XLV (Healthcare): These sectors are experiencing consistent momentum, a potential sign of economic stability and investor interest in fundamental health.

Key Levels to Watch

SPY:
– Support Levels: 650 appears as a near-term support level.
– Resistance Levels: 670 is emerging as a key resistance zone to break.

QQQ:
– Support Levels: Near 580, suggesting robust buying interest here.
– Resistance Levels: Around 590 should be watched for breaks to upside.

Scenarios

Bullish Scenario:
– Potential catalysts like positive economic data or better-than-expected corporate earnings could push SPY and QQQ higher. A breakthrough past identified resistance levels could set the path for a continuation of the bullish trend.

Bearish Scenario:
– Negative catalysts like unexpected poor economic indicators or geopolitical tensions could lead to technical breakdowns. If key support levels fail, especially in SPY and QQQ, this could signal the onset of a downturn.

Overall Commentary

Currently, the market showcases a cautiously optimistic sentiment with sectoral performances pointing towards a probable continuation of the current trend, especially in technology and consumer sectors. Traders should monitor upcoming economic reports and global news for potential shifts. Strong supports provide short-term cushions, though vigilance is warranted around identified resistance and support levels to navigate potential volatility.