One more weak day will turn the GMI to a Sell signal. The QQQ is already in a short term down-trend. Time to be very defensive.
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5th day of $QQQ short term down-trend; $TFX bounces.
A lot of rocket stocks bounced from oversold support on Monday. This may be a playable bounce.
For example, TFX, which I bought on Monday, has bounced from 1ts 15.2 lower Bollinger Band and retaken its 30 day average. I call this a low risk set-up. If the bounce fails to hold I exit and take a small quick loss. Note that TFX is above its recent green line top.
3rd day of $QQQ short term down-trend; heed earnings day
It is embarrassing to see that one of the GLB stocks I posted in my new GLB tracker table , IPGP, fell 15% the next day. This brings up a very important lesson I teach my students. Always know the expected earnings release date for all stocks held or to be purchased. In these very volatile days, I usually sell my position before earnings day. Otherwise, I am merely gambling. On the other hand, those gamblers who held LNKD or AMZN through earnings were greatly rewarded!