43rd day of $QQQ short term up-trend; $QQQ likely to have WGB


This weekly chart shows that $QQQ is likely to end this week with a weekly green bar (WGB) as it retakes its 4 week average (red dotted line) and closes the week higher than last week’s close. A close next  week below the low of this week’s WGB (305.18) would be a significant sign of short term technical weakness. Advancing stocks and ETFs hold the pattern of weekly closes above the 4 wk  and 4wk>10wk>30wk. For now, QQQ remains in a strong up-trend.

Leave a Reply

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