13th day of QQQ short term up-trend; becoming more cautious


GMI remains at 6 (of 6) and on a Buy signal.   Nevertheless, I see some weakness developing. Once earnings are out, there is little to propel stocks higher as we go into a lull period and the often weaker September/October period.   I am getting more cautious as I see air pockets develop in some stocks, as happened Wednesday in IRBT. The bull rise also finally got around to the laggards like AAPL and FB.   I do not think this is the time to take on new long positions.

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