The QQQ is right above support. I am cutting back my long positions and waiting to see if this support level holds. The lower daily 15.2 BB is at 104.13. A close below this level on Thursday would signify major weakness.
4th day of $QQQ short term down-trend; $AMBA rocks
IBD says uptrend under pressure, but also that the put/call ratio was above 1 on Tuesday. Surprisingly, AMBA hit a new all-time high on Tuesday. It remains in a strong RWB up-trend and above its green line break-out. (I own some.)
Maybe funds wanted to dress up their end of quarter portfolios with this winner.
3rd day of $QQQ short term down-trend
But QQQ closes back above its 10 week average! The bounce is holding thus far.