28th day of $QQQ short term up-trend; end of window-dressing, weakness coming?


With the end of end of quarter window dressing, I expect weakness until earnings start coming out in mid-April. There were only 133 new highs on Thursday, down from 210 on Wednesday. This daily chart of QQQ shows that it was briefly outside of its upper 15.2 daily Bollinger Band on Wednesday. I expect QQQ could decline at least to the lower band, around 105. If that fails to hold, look out below! (look at what happened in early January)

Screen Shot 2016-04-01 at 5.56.56 AMI will tighten stops to protect gains.

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