Dr. Wish
2nd day of $QQQ short term down-trend; further declines likely; $TLT predicting higher interest rates
My indicators are not oversold enough. T2108 is only down to 29% and the QQQ daily 10.4.4 stochastics is at 39. However, an analysis I have done found that about 4 in 10 QQQ declines since 2006 lasted 5 days or less. Once a decline passes 5 days it can go on for a much longer period and I am more confident to ride it with SQQQ. Note that 20 year US treasury bonds (TLT) are in a steep decline, predicting higher interest rates. Mr. Market detests higher interest rates…..
New $QQQ short term down-trend and GMI Sell signal–Dead cat bounce? Watching $SQQQ
My long and short term indicators have turned down. I usually have more confidence in a short term trend change when it persists for 5 days but this tepid rebound looks to me more like a dead cat bounce? Note the lower volume on Monday’s rebound compared with that on Friday’s decline. For now, I wait safely on the sidelines and watching $SQQQ for a possible entry….
