Bounce fails to break above resistance and GMI remains Red ; 22nd day of $QQQ short term down-trend


The  future of the longer term up-trend depends on whether the QQQ can find support again at the 150 day moving average (lower purple dotted line). However, the most recent green dot signal is still operative. I am in cash in my trading accounts and waiting for Mr. Market to tip his hand.

An ominous sign is that the daily RWB up-trend has clearly ended. Will it turn into a BWR down-trend?

Leave a Reply

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