Stock Market Technical Indicators & Analysis
Another weak day on Wednesday could turn the short term trend of the QQQ down. The QQQ failed to hold its 10 week average. I sold my TQQQ and am on the sidelines. I do not like the fact that the 30 day average (red line) is trending down. Click on chart to enlarge.
QQQ regained its 10 week average but we are not out of the woods yet. Still, the QQQ held steady on Monday, perhaps reflecting continued strength in AAPL. Here is an update of last night’s daily chart of QQQ. The QQQ closed Monday just above the top channel line. Meanwhile, the GMI fell below 4 again.
I will be more confident of this new up-trend once it lasts 5 days.