Change in short term trend imminent, IBD sees market correction


Wednesday was the 19th day of the QQQ short term up-trend. That up-trend could end on Thursday and the GMI could signal a Sell with a weak day. IBD now sees the market in a correction. The collapse of the biotech leaders is an ominous sign. In addition there have been more new lows than highs for the past 2 days. Interest rates are rising. The failure of the QQQ to hold its channel break-out (see chart) is also a major sign of weakness. I am largely in cash in my IRA trading account. I have a small position in SQQQ also.


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