Blog Post: Day 5 of $QQQ short term down-trend that could end Friday; the GMI remains Green; $QQQ holds support and shows strength, and is in a nice weekly RWB up-trend and $AMZN has GLB, see charts; earnings release rally may have finally begun


Thus far, QQQ has held above last week’s low of 435.11 and has reclaimed its 4 and 10 week averages. My adapted weekly GMMA chart shows QQQ to remain in a sustained RWB up-trend. The dotted line represents each weekly close. The purple dots are the weekly lows. We want all the short term  (red) averages to rise above the longer term averages (blue) with a large white band separating them, hence the RWB pattern.


AMZN had a GLB on Thursday. I would have liked to see an increase in volume. AMZN must not close back below its green line, at 188.65.



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