Blog Post: Day 41 of $QQQ short term up-trend; 143 US new highs, 26 lows and 63 ATHs; Window dressing upon us–beware, $QQQ, $SPY have black dots, see charts


Well, window dressing came a day later than I expected. This is when many of the strong stocks are bought up by mutual funds so their quarterly reports look good. However, it ends by Friday and maybe even Thursday, if many people exit early. Then we may get  beginning of the month weakness for two weeks until earnings start being released. So I bought a few things Tuesday and placed close stops in case they reverse quickly. Only 4 of the 9 very sensitive indicators in the GMI2 are positive. QQQ even had a black dot, signifying an OSB (oversold bounce) after a recent yearly high. Resistance could be at the upper 15.2 Bollinger Band at 373.17. So did SPY.

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