The Invesco S&P 500 Quality ETF (SPHQ), an ETF devoted to screening for high-quality stocks, is wilting under the pressure of an AI buildup that is now being challenged by gravity.
Here’s the daily chart. The percentage price oscillator (PPO) and 20-day moving average are what I’d call “setting up to fail.” That never means “will fail,” but it does prompt a yellow flag.