If QQQ closes (dotted line) below all red lines it would be first place for me to lighten up on QQQ.
GLD remains strong.
The GMI remains Green.
$NFLX daily RWB pattern gone by Wednesday’s close
According to the rules I discussed at AAII last weekend, one could have chosen to sell out NFLX around Wednesday’s close when the daily RWB pattern disappeared and the stock was set to close below all 12 averages. An earlier sign of weakness was its close (dotted line) below all 6 short (red) averages several days ago. Or just never hold through earnings…..
Day 24 of $QQQ short term up-trend; outline of my AAII presentation last weekend
Since the first day of the new QQQ short term up-trend, QQQ is up +5.86%, TQQQ is up + 18.19%. Only 3 Nasdaq 100 stocks (WDC, MU, SYMC) have outperformed TQQQ. Rather than trying to identify in advance the rare stocks that beat TQQQ in an up-trend, I just buy TQQQ. Below is the hand out from my AAII presentation last weekend. It is an outline of my talk. The focus was a conservative strategy for older persons and trades index ETFs rather than individual stocks. Most of the terms here are defined in my blog’s glossary. These are my rules and are not advice but are provided for educational purposes only. Everyone needs a set of rules.
