Research Notes · Ticker

QQQ

Kresmion Research notes about QQQ. Independent, source-attributed, information-only.

3 notesView QQQ filings and institutional holdings →All research notes
CryptoMacro

Bitcoin and Ethereum Rose This Week While Every Major US Stock Index Fell.

The Macro Regime Behind Them Did Not Shift.

Over the past week Bitcoin and Ethereum are up while the S&P 500, the Nasdaq 100, the Dow and the Russell 2000 are all down. On Tuesday the gap widened, with Bitcoin up about 3 percent on the day and US stocks set to open lower. A week where crypto rises and every big equity index falls is easy to read as decoupling, or as crypto trading like a macro hedge. Kresmion's cross-asset read points somewhere more ordinary: the macro regime did not change, so this is two separate stories that happen to point opposite ways in the same week, with no single backdrop moving them together. The two sides are clean. Measured over the week, Bitcoin is up about 1.9 percent and Ethereum about 2.6 percent, with Solana up about…

8 min readBTCETHSPYQQQIWM
EquitiesPositioning

The Three Big Index ETFs Are All in Negative Dealer Gamma.

The Mega-Cap Stocks That Dominate Them Are Not.

8 min readSPYQQQIWM
EquitiesvolatilityPositioning

Options Dealers Are Positioned to Dampen the S&P and the Nasdaq.

The Russell 2000 Is the One Index They Are Still Positioned to Amplify.

9 min readIWMSPYQQQ