QQQ (15 August)

Approximately 56.4% of the QQQ stocks are trading above their 50d MA & about 66.3% are trading above their 200d MA

• These levels indicate a moderately positive near-term trend with just over half of the constituents are in ST uptrends, suggesting reasonable participation, though it's not a runaway bullish signal
  
• A strong LT trend presence with two-thirds of stocks are in LT uptrends, supporting constructive structural strength beneath QQQ
  

These numbers suggest that while participation is positive, it's not extreme

• If QQQ continues higher, it’s worth watching whether the 50d breadth climbs further (strengthening the breakout thesis)
  
• If QQQ rallies, but fewer constituents join (50d breadth stalls or reverses), that could be a red flag for sustainability