Daily RWB pattern is failing. Note last October rise where QQQ closed each day (dotted line) above all averages. That is what we are looking for in a meaningful reversal.
Dr. Wish
Blog post: Day 4 of $QQQ short term up-trend, but may end Tuesday; But GMI turns Green; GLB: $EXPD, see weekly chart
QQQ is right on support. By week’s end we will find out if the market rallies or swoons. It may wait until after the Fed reports on Wednesday at 2:00 PM. Meanwhile EXPD had a GLB. Check out its weekly chart. Must not close below 130.76.
Blog post: Day 3 of $QQQ short term up-trend; GMI could turn Green Monday; Short term treasuries ($SHY) in daily BWR down-trend
With SHY falling, short term interest rates are rising. This makes sense with the Fed reporting they are ready to enhance tapering of bond buying and to raise rates.
With the GMI=4, it could flash a Green signal with another day above 3.
