QQQ Reclaims 200-Day Average as AI Stocks Diverge Before December Rate Decision

The index reclaiming its 200-day line says more about breadth than direction: the AI trade is no longer a single block, with AMD and Micron extended above trend while Nvidia and CoreWeave sit well below theirs. That dispersion matters because Nvidia's Nov. 17 report lands with the 10-year yield near 5%, a combination that tends to punish crowded positioning regardless of headline results. Whether the index-level recovery holds once that earnings print and the December rate decision are digested is the open question.