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There's been a lot of upbeat change in the Nasdaq since the last time Kevin Davitt (@nasdaq) appeared on our network in March. He examines the index's outperformance over recent years and how it compares to historical trends.

After a long wait, tech stock investors have plenty to cheer about. It took a whopping 167 days, but the Nasdaq-100 index last week surpassed its previous closing high from back in October 2025 while also racking up its longest daily positive streak since 1992.

ProShares UltraPro Short QQQ (NASDAQ: SQQQ - Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 5,663,103 shares, an increase of 19.4% from the March 15th total of 4,741,138 shares. Approximately 15.6% of the company's shares are short

Current NDX forward valuations are near 10- and 30-year averages, removing the overvaluation thesis for aggressive short bets. Market behavior suggests geopolitical shocks are already partially priced in, reducing the likelihood of sudden, sustained NDX declines. Leveraged inverse ETFs like SQQQ remain tactical tools, but absent a clear negative catalyst, holding them now is not justified, in my opinion.

Shares of ProShares UltraPro Short QQQ (NASDAQ: SQQQ - Get Free Report) gapped up prior to trading on Thursday. The stock had previously closed at $77.45, but opened at $81.70. ProShares UltraPro Short QQQ shares last traded at $80.6250, with a volume of 14,100,665 shares changing hands. ProShares UltraPro Short QQQ Price Performance The firm's