16th day of QQQ short term up-trend; AAPL weighs on QQQ


With the large AAPL post-earnings decline (-12.4%), the QQQ has weakened (see daily chart below) and the more sensitive GMI-2 is now at 3. The QQQ has been flat since the New Year pop. With the T2108 at 84, I am a little more cautious than I would be with the GMI still at 6 (of 6). Some of the air came out of ONVO on Thursday and I bought back some of my shares at a lower price than I sold them earlier in the week. AAPL remains in a Weinstein Stage 4 down-trend and should have been sold long ago, as I had written months ago.

6 thoughts on “16th day of QQQ short term up-trend; AAPL weighs on QQQ”

  1. Hi Eric,

    I would like to first say Thank you for your daily blogs, this site is one of my routine stops daily before market opens. I find that you are very knowledgable, analytical and I appreciate your work very much. I was wondering as T2108 is moving ever closer to 90% each day, do you think its a good idea to get into Gold as prices has come down a bit recently from all time highs.

    Thank you for comments.

  2. /Mark, No, thats not it. I have a genuine belief that knowledge is very valuable. Without reading Erics daily updates, I think I would be less educated daily.

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