Earnings begin; will $QQQ break out of its channel?


Will the market rise with earnings coming?  While reporting companies can blame their past weak results on the strong dollar, maybe they will forecast better results this quarter, with the dollar weakening. The QQQ is in a tight channel.  If this channel fails to hold, I expect support at the lower 15.2 Bollinger Band, around 106.44.  If this level were to fail, I would expect more weakness. But the rising 30 day average (red line) is an important sign of strength.

Screen Shot 2016-04-10 at 6.02.08 PMThe GMI is at 4 (of 6) and still on a Buy signal.


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32nd day of $QQQ short term up-trend; Watching $PACB


Quite a while ago, my stock buddy, Judy, talked to me about PACB. It has a lot of promise for the new technology it is developing. I have been watching PACB for quite a while. After putting in a likely bottom, PACB is showing some signs of life. While far from its all-time high of 17.47, I still nibbled a little on it on Wednesday. This is a very speculative and relatively low priced stock. But Judy’s concept stocks have often proved themselves.

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