Blog post: Day 1 of new $QQQ short term down-trend; Hourly GMMA looks weak, see chart; GMI=0


The hourly GMMA chart shows that QQQ closed (dotted line) the last hour below all 12 averages. I nibbled at SQQQ. If the new short term down-trend reaches day 5, I will be more confident that it will be significant. Note the large volume at the end of the day. See the 10:30 Weekly chart. Cash is king right now.

Look at this ominous 10:30 Weekly chart of QQQ.

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