My indicators, while weakening, are not yet at oversold levels and the daily stochastic is declining. The QQQ closed below its 10 week average (blue dotted line) but remains well above its rising 30 week average (red solid line) and in a Stage II longer term up-trend. Stay tuned.
Dr. Wish
Defensive even though GMI remains Green and at 5 (of 6)
I remain very defensive having had so many recent set-up failures. I am mostly in cash.
$FB The risks from holding through earnings
Nothing in my charts predicted the decline in FB. The only heads up was the date of earnings release, which was known to everyone months in advance. Below is the strong weekly chart of FB–before today. The little blue triangle shows where it is trading pre-market.
