I am getting very defensive. QQQ short term up-trend ends today with a decline or flat day in the index. Mostly in cash as even AAPL weakens.
Month: September 2011
QQQ stuck below resistance; very cautious
The QQQ appears unable to break above key averages. A close below 54 would be very ominous for me. Wednesday was the 15th day of the current QQQ short term up-trend, within a longer term down-trend.
QQQ short term up-trend continues; QSII break-out
The market continues to recover, with the T2108 well into neutral territory. It remains to be seen whether the market can break through its longer term averages. Meanwhile, the GMMA monthly chart below shows that QSII has emerged from a multi-month base. Judy and I have been talking about QSII for some time, and I currently own some of QSII. (Click on chart to enlarge.) With the GMI at 1, I remain very cautious.
