Blog Post: Day 30 of $QQQ short term up-trend, it may end Monday; 64 US new highs Friday and 176 lows; GMI close to turning RED, but I wait for signal–do not jump the gun


I will buy a little SQQQ if the QQQ short term up-trend ends on Monday. Most ominous is the fact that SPY has now closed below its 10 week average. Also, the 10.4 fast weekly stochastic has now crossed below the slow stochastic for SPY, DIA and QQQ. A weak day on Monday would likely reduce the GMI to 2 (of 6). Two consecutive days with the GMI below 3 would turn it Red. All of these technical indicators are picking up a possible change to down in the longer term trends. Many indicators are oversold and the market might hold and bounce. Wait to see!!!!

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