Author Archive for Dr. Wish
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Helped by AAPL, the QQQ broke out of its channel on Thursday.
Will QQQ hold channel break-out?
GMI back to 6 (of 6). QQQ is near top of channel.
The QQQ (and the SPY and DIA) are following a pattern similar to the one formed in December and January. The market rises and then enters a downward sloping channel of consolidation. I have drawn in the channel lines in the daily chart of the QQQ below. There are three things I look for in […]
QQQ near top of channel.
All of my GMI and GMI2 components are positive. The QQQ and SPY have now closed back above their 10 week averages. Time to trade on the long side again, at least until earnings season is over.