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21st day of $QQQ short term down-trend
Market remains in down-trend. Mainly in cash.
20th day of $QQQ short term down-trend; $DIA has ominous BWR technical pattern
More new lows than new highs on Wednesday again. IBD back to up-trend under pressure, lowered from confirmed up-trend. AAPL and QQQ failed to hold morning gains. An ominous technical pattern is being formed by the DIA (Dow-30 ETF). It is now forming a bearish BWR pattern with all of the shorter averages (red) below the longer averages (blue), with all averages pointing down. Note that the former bullish RWB pattern ended in July.
