Most of the times $QQQ rises overnight after a green day

BE Trader

Junior member
I have been experimenting quite a bit with major ETFs recently and came across overnight behavior that has been somewhat consistent since 2016. It came from backtests for 3 ETFs that represent major indexes: $SPY, $QQQ, $DIA against the following setups:
  • 📈 Up Yesterday → Long in the Morning, Sell EOD
  • 📈 Up Intraday → Long Overnight, Sell at 9:30 Next Day
  • 📉 Down Yesterday → Short in the Morning, Sell EOD
  • 📉 Down Intraday → Short Overnight, Sell at 9:30 Next Day

Strategy Setup
Other Conditions
  • $10,000 to trade daily
  • Buy at intraday if the condition is met
  • Do not trade on early close days
  • Market orders
  • No Stop Loss in this study
The Results

$QQQ has the best overnight continuation rate; $SPY - the next day



Disclaimer: Not financial/investment advice.
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