2nd day of new $QQQ short term up-trend


I do not trust a new QQQ short term up-trend until it lasts 5 days. The GMI remains on a Sell signal. The daily 10.4 stochastics for the QQQ and SPY are very over-bought and beginning to turn down. I remain mainly in cash. Here is the daily chart of the SPY (S&P500 ETF). Will it hold the 30 day average (red line)?

Screen Shot 2016-02-23 at 11.07.14 PM


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.