$QQQ short term up-trend likely to end on Friday


The divergence between the GMI and the GMI2 is troubling. While the longer term components of the GMI are all positive (6 of 6) only 1 (of 8) of the more sensitive components of the GMI2 are positive.The SPY and DIA were holding up but the QQQ was in a free fall on Thursday.The QQQ has now closed below its 10 week average. It is  likely that the QQQ short term up-trend will end on Friday, after only 9 days. I am getting very defensive but am aware that early December weakness could set up a strong end of quarter surge fueled by mutual fund window dressing at the end of the month.  Check out this daily chart of QQQ.


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