Posted Thursday, May 14, 2009 @ 11:08 pm by Dr. Wish
QQQQ short term up-trend in jeopardy, completed 41st day
My technicals have weakened significantly. There were only 7 new highs and 8 new lows in my universe of 4,000 stocks on Thursday. The QQQQ short term up-trend, now in its 41st day, will end if the index cannot hold current levels. QQQQ is riding right on support. Meanwhile, the Worden T2108 indicator is now below 90%, after several weeks above that level. Options expire Friday, and I will wait for June 1 to write new puts if the up-trend holds.
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