Blog post: Day 34 of $QQQ short term down-trend; major indexes reversed up off of lower daily 2.15 Bollinger Band, likely leading to brief advance, see chart

@ 9:13 am
GMI0/6
GMI-21/9
T210824%

The bounce Thursday was just like the prior reversals shown with arrows and green price bars. Note that these recent bounces held for a short time only. Upper Bollinger Band is at 369.32 and would have to be penetrated to suggest to me a significant turn.

 

Blog post: Day 33 of $QQQ short term down-trend; Weekly RWB up-trend now over, see chart; IBD calls correction

@ 8:54 pm
GMI0/6
GMI-22/9
T210821%

This decline is just getting started. It is not even as steep as the 2020 decline. Let’s see if it turns into a BWR down-trend pattern. Thus far, T2108, now at 21%,  is still too high for a bottom. If T2108 falls below 10%, I hope to have the courage to buy a little SPY. I never do and I miss the bottom. It is so nice to be in cash…….(I told you when I got scared in November)