Blog Post: Day 3 of $QQQ short term down-trend; 19 new US highs and 300 new lows; weekly chart shows $SPY in free-fall, again


Decline is reminiscent of what happened last April when SPY failed to hold above 30 week average (solid red line). Will this decline take out June’s lows? No one knows but it is better to stand aside. After a new up-trend begins it is much easier to make money going long.

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