$QQQ closes back above all 12 daily averages in my daily GMMA chart–this could be the beginning of a new up-trend


IBD said it was not a follow-through day (FTD) Monday because the volume was not large enough. Could it be that the volume was reduced because it was Yom Kippur, the biggest Jewish holiday when most Jews fast and do not work? We shall see. Anyway, the fact that QQQ has now closed back above all of the 12 averages in my modified daily GMMA chart may be significant. The daily close is shown by the dotted line. Watch for it to lead all of the averages higher. Check out this type of chart in my blog glossary.

Here is last April’s turn.


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