On August 26, 2024, the Russell 2000 ETF ($IWM) rose by 0.8%, while the Nasdaq-100 ETF ($QQQ) fell by 0.8%, indicating a significant disparity in performance between the two indices. The Russell outperformed the Nasdaq by 150 basis points, suggesting a potential trend that could continue into the Federal Reserve's anticipated rate cut next month. Analysts noted that as the Fed approaches rate cuts, there may be less reliance on the so-called 'Magnificent Seven' stocks, which have previously acted as safe havens. Concerns were raised regarding the relative weakness of the QQQ compared to the S&P 500 ETF ($SPY), with observations that QQQ has not filled a gap as SPY did the previous week. This trend may indicate that QQQ often peaks ahead of SPY, warranting attention from investors.