Minervini just shorted QQQ despite it being up 3.38% today at $717.12. Recent news shows mixed signals: wholesale inflation hit highest since Nov 2022 and PPI concerns, but chip rebounds have supported the tech-heavy index. His timing suggests he expects the recent rally to reverse, potentially betting against the tech sector momentum.
Minervini maintains his short position on SPY, which is currently up 1.70% at $737.76. Despite news of strategists calling this a 'buyer's dream' after the recent pullback and positive signals from Trump on Iran deal, Minervini holds his bearish view. His persistence in the short despite market strength suggests he sees near-term downside risk in broad market indices.