ETF outflows: TQQQ, LIN, TMUS, AMGN

What happened: Significant outflows were observed in several ETFs between April 28 and May 5. SQQQ, an inverse QQQ ETF, saw outflows, with its price at $19.37, near its 52-week low of $18.99. TQQQ, a triple-leveraged QQQ ETF, experienced outflows, trading at $47.37, down from its 52-week high of $60.685. Other ETFs like XBI, APLS, TVTX, RVMD, and QYLD also faced notable outflows.

Market impact: These outflows indicate a shift in investor sentiment, with some pulling back from tech-heavy and leveraged positions. This could signal a temporary loss of confidence in these sectors or a rebalancing of portfolios. The outflows may have contributed to the recent pullback in tech stocks, with the Nasdaq-100 underperforming the broader market.

What to watch next: Investors should monitor the upcoming earnings reports from key tech companies like Microsoft (June 28) and Apple (July 27) to gauge the health of the sector. Additionally, keep an eye on the 200-day moving average for TQQQ, which is around $55.75, as a break below this level could signal further weakness. Lastly, watch for any changes in the 52-week range of SQQQ, as a move towards its low could indicate increased bearish sentiment.