Short term down-trend ending?


A rise in the QQQQ on Thursday and Friday will likely turn my trend indicator up.   Wednesday was the 18th day of the short term down-trend. However, there were 167 new highs in my universe of 4,000 stocks on Wednesday, the most since January 21. And 53% of the Nasdaq 100 stocks closed above their 30 day averages. With the indexes up against their key moving averages, it remains to be seen whether they will break through this week.   With many growth stocks getting stronger, I suspect this market is going higher.   The key is to not jump the gun, however, but to wait for confirmation.

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