Nasdaq Dorsey Wright

First Trust Feature

Published: July 30, 2025

This content is for informational purposes only. This should not be construed as solicitation. The general public should consult their financial advisor for additional information related to investment decisions.

Like the index it maintains commonality with, the Nasdaq-100 (NDX), the First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) moved to a new all-time chart high at $140 with intraday action on Tuesday (7/29).

There were no changes to any of the First Trust Models covered within the report this week.

Like the index it maintains commonality with, the Nasdaq-100 (NDX), the First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) moved to a new all-time chart high at $140 with intraday action on Tuesday (7/29). This continues a current column of Xs that has been in place since late April on the default point and figure chart and follows a move back into a positive trend in mid-May. The positive trending picture coupled with positive near- and long-term relative strength against the market as defined by the S&P 500 Equal Weight Index (SPXEWI), brings the ETF’s fund score up to a strong 5.32 (out of 6). Although extended on the default point and figure chart, QQEW isn’t quite as overbought as the Nasdaq-100 and other similar large cap US Equity indices and trades within an actionable range. Those who may be seeking alternative Nasdaq-100 exposure could consider QQEW here or on a pullback to the mid $130s. Initial support can be found at prior resistance at $136, while additional support can be found on the more sensitive one point per box chart in the upper $120s and $110 range. Year-to-date, QQEW is up 11.5% and is outpacing the Nasdaq-100 by 50 basis points.

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DISCLOSURE

**Unless otherwise stated, the performance numbers herein are based on price returns and do not include dividends or all transaction costs. Past performance is not indicative of future results. Potential for profits is accompanied by possibility of loss. First Trust has arranged with Dorsey, Wright to provide this specialized ETF page on the First Trust ETFs. The Point & Figure analysis, models and resulting rankings, including any information, data or commentary included therein, are created and provided solely by Dorsey, Wright & Associates. Such analysis, models and rankings should not be considered an offer to purchase or sell, or a solicitation of an offer to buy or purchase any security, including First Trust ETF shares. The examples presented do not take into consideration commissions, tax implications, or other transactions costs. Neither First Trust nor Dorsey Wright through this ETF page provide investment advice or recommendations regarding any security, fund or market. As the investment professional making the final decision with respect to allocations, including any related suitability, fiduciary or other legal obligation, please remember to adhere to all applicable laws, regulations and rules, including NASD Rules 2090 and 2111 (Know Your Customer). The percentage of the portfolio devoted to any ETF is at the sole discretion of the financial advisor or the customer, and not Dorsey, Wright & Associates or First Trust. If you are not familiar with Point & Figure methodology, we suggest you read “Point & Figure Charting, 4th Edition” by Thomas J. Dorsey and visit the PnF University, www.dorseywright.com. If you are not familiar with the First Trust ETF product, or Exchange Traded Funds (ETFs), we suggest you visit www.ftportfolios.com.