4th day of $QQQ short term down-trend; mainly in cash; but $SQ not so square!


The leaders are breaking down. The DIA and SPY have now closed below their 30 week averages.  Only 30 stocks hit a new high while 201 hit new 52 week lows on Wednesday. This is not a market to go long growth stocks near new highs. Time for me to be in cash or short in SQQQ.

However, SQ was one exception to the carnage. It released some good fundamentals and is worthy of monitoring. Note the large black up volume spikes on this daily chart.


Leave a Reply

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