Indexes are oversold and should bounce. However, P/C ratio is only .89. This market may have to decline further. Bonds are in a free fall as interest rates move higher. Check out the 20 year treasury bond ETF, TLT.
Month: June 2015
New $QQQ short term down-trend; June swoon?
I noticed that the QQQ short term trend was turning down on Monday and so I sold some positions and hedged others with put options. We are in the period when earnings are mainly out and we often see a decline until 2nd quarter is over and earnings begin to come out in early July. IBD still sees market in confirmed up-trend.
19th day of $QQQ short term up-trend; $CYBR may break-out, $HACK has
I am very interested in stocks that come public, form a base and then break to new highs. CYBR is getting close to breaking out. It is close to a green line break-out. It may even be completing a cup and handle base, as seen in this weekly chart. With so many hacking events hitting the news, it may mean good business for cyber-security firms. Judy has been talking about CYBR for some time.
As an alternative to single stocks, there is a new ETF for cyber-security firms, HACK. HACK had a strong week last week.
The GMI remains strong and the longer term up-trend remains intact. But note that the SPY has closed below its 10 week average. Tech stocks are outperforming. Will SPY or QQQ lead the market?
