With the end of the end of quarter mutual fund window dressing, I suspect we might see some weakness until 2nd quarter earnings are released. But QQQ remains in a strong daily RWB pattern.
Dr. Wish
Blog post: GLB: $MTDR, $CRWD, $GNRC; GMI 5 (of 6) and Green
Weekly chart shows $MTDR had GLB and a WGB (weekly green bar).
21st day of $QQQ short term up-trend; End of quarter Window Dressing time; $TQQQ prevails again
With the end of the 2nd quarter, mutual funds are dressing up their quarterly reports by buying the strongest stocks. Hence the rally we have seen in the tech stocks as evidenced by QQQ. Since the beginning of the QQQ short term up-trend on 5/26, QQQ has advanced +4.7% while TQQQ has advanced +14.7%. I like to ride TQQQ. Only nine Nasdaq100 stocks have advanced more than TQQQ.
