All of my indicators remain positive. However, note that the T2108 indicator is at 75%, very close to extreme overbought levels where prior markets have topped out. A reading near 80% would make me more cautious. Since the first day of the short term up-trend in the QQQ on March 30, that index has advanced +3.26%, the QLD, +6.44% and the TQQQ, +9.73%. The TQQQ beat 86% of the Nasdaq 100 stocks. (AAPL was up only +.44% and GOOG was down -7.58%) If I had only jumped on one of these index ETF’s on the first day I identified this up-trend! How many times do I have to learn this lesson?
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GMI: 6
Unable to post today, GMI still at 6. 18th day of QQQ short term up-trend.