13th day of QQQ short term up-trend; T2108 overbought


With the T2108 at 85%, we are near the extreme overbought level that this indicator ever reaches. It looks like HITK broke out on Thursday with high volume.   I bought some. See the weekly chart below. Click on chart to enlarge.

1 thought on “13th day of QQQ short term up-trend; T2108 overbought”

  1. Dear Dr. Wish,

    I was looking at the volatility of HITK today and compared that with historical volatility. Today we are at very close to highest high. (Volatility masured as ATR).

    When looking at volatility on HITK – history tell us that the stock will drop (check chart with ATR and see the peaks and you will see the stock price tend to drop when those volatility levels are reached)

    Is this something we should pay attention to? Do you every check that? How concern do we have to be when looking at volatility.?

    Thank you in advance

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