End of $QQQ short term up-trend Tuesday?


After 64 days, the QQQ short term up-trend could end on Tuesday with a down or flat day.   (IBD now declares uptrend under pressure.) It was a great, long ride! The QQQ is on several levels of support that I monitor, so that index could bounce up by Tuesday’s close.   If it does, the key for me   is whether that bounce will hold through Wednesday. A failed bounce could lead to a large decline. I cut back on my holdings in my trading accounts on Monday. Remember, a market always falls faster than it went up, and this market rose pretty fast.

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